Zoetis: 3Q Earnings Snapshot
PARSIPPANY, N.J. (AP) _ Zoetis Inc. (ZTS) on Thursday reported third-quarter profit of $347 million.
The Parsippany, New Jersey-based company said it had profit of 71 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were 83 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The animal health company posted revenue of $1.48 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $1.46 billion.
Zoetis expects full-year earnings in the range of $3.08 to $3.13 per share, with revenue in the range of $5.75 billion to $5.8 billion.
Zoetis shares have increased 26 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 1 percent. The stock has risen 42 percent in the last 12 months.