Teva Stock Rises 1.6% After Q1 Profit Beat, Revenue Miss

Teva Pharmaceutical Industries Ltd. shares rose 1.6% in premarket trade Thursday after the company reported a first-quarter profit beat and revenue miss. Earnings for the latest quarter rose to $580 million, or 57 cents per share, from $570 million, or 62 cents per share in the year-earlier period. Adjusted earnings-per-share were $1.06, compared with the FactSet consensus of $1.04. Revenue rose to $5.63 billion from $4.81 billion, compared with the FactSet consensus of $5.79 billion. The company reaffirmed its 2017 guidance, which includes full year revenue between $23.8 billion and $24.5 billion and adjusted EPS between $4.90 and $5.30. Teva also said that Michael McClellan will serve as the company's interim chief financial officer, with the company's new chief executive expected to have a big role in choosing the permanent CFO. Teva shares have declined 2.6% over the last three months, compared with a 3.6% rise in the S&P 500 .

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