UPDATE: Allergan Tops Earnings Estimates On Strength Of Botox, Eye Care Products

Botox-maker Allergan Plc said Tuesday it had a GAAP operating loss from continuing operations of $906 million, or $7.85 a share, in the first quarter, after a loss of $171.5 million, or 41 cents a share, in the year-earlier period. On a non-GAAP basis, it had per-share earnings of $3.35, ahead of the FactSet consensus of $3.31. Sales climbed to $3.57 billion from $3.39 billion, also ahead of the FactSet consensus of $3.53 billion. Revenue growth was driven by a strong performance from facial aesthetics, Botox therapeutic, eye care products, and others. The GAAP operating loss from continuing operations was mostly due to amortization, research and development-related charges and in-process research and development impairments, the company said. Looking ahead, Allergan is expecting full-year revenue of $15.8 billion to $16.0 billion. It is expecting a full-year loss per share of $9.70 to $10.20, and an adjusted EPS of $15.85 to $16.35. The current FactSet consensus is for sales of $15.9 billion and EPS of $16.03. Shares rose 1% in premarket trade, but have gained 15% in 2017, while the S&P 500 has gained 7%.