Zoetis: 2Q Earnings Snapshot
PARSIPPANY, N.J. (AP) _ Zoetis Inc. (ZTS) on Thursday reported second-quarter profit of $384 million.
The Parsippany, New Jersey-based company said it had net income of 79 cents per share. Earnings, adjusted for non-recurring gains, came to 77 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The animal health company posted revenue of $1.42 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.38 billion.
Zoetis expects full-year earnings in the range of $3 to $3.10 per share, with revenue in the range of $5.7 billion to $5.8 billion.
Zoetis shares have risen 19 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has risen 38 percent in the last 12 months.