Monday, May 10, 2021

Teva Pharmaceutical (TEVA) revised its financial forecast after low third-quarter sales

Teva Pharmaceutical (TEVA) announced its financial results on Thursday reporting low third-quarter sales and the company reduce its full-year revenue figures.

Teva reported 58 cents per share income for the quarter ended September 30, 2020, which is in line with the analyst’s estimates. The earing remains flat over the year. The company sales declined by 2.8% and the company earned $3.98 billion in sales, which is way behind than the $4.06 billion estimates. After the announcement, Teva stock floored 6.5% to 8.61.


A Backdoor Way To Profit From Today’s Crypto Bull Market

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .

Sponsored


The sales of generic products climbed 2% to $928 million in North America, but generic product sales declined in Europe and international markets1% and 10% respectively year over year.

The revenue from the sales of Copaxone declined in all three geographies and it was declined most in the North America where it dipped to 13% to $236 million which is still $26 million higher than the analyst’s forecast.

But that beat forecasts by $26 million, SVB Leerink analyst Ami Fadia said in a note to clients. She retained her market perform rating on Teva stock.

Copaxone is facing tough competition due to generic copies but Teva said that Copaxone has ‘stabilized’ in the U.S.

Teva revised its sales figure for the year. Now Teva is looking to earn16.5 billion to $16.8 billion in sales, which is $150 million lower than previous guidance at the midpoint. Also, the earning per share has been revised and Teva expecting $2.40-$2.55 earnings per share whereas analysts’ estimates are $16.65 billion in sales and $2.48 per share.

Latest news

What is behind the fall of Torchlight Energy Resources Inc. (NASDAQ: TRCH) stock?

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), a growth oil and gas exploration company specializing in the acquisition and development of highly profitable domestic oil...

Eros STX Global Corporation (ESGC) stock is declining: Here is the reason why?

Eros STX Global Corporation (NYSE ESGC) a global multinational media company that acquires, produces, and distributes films, television shows, and digital content issued its...

Yum China Holdings Inc. (YUMC): The Most Important Numbers You Should Know

Yum China Holdings Inc. (YUMC), which operates Taco Bell Restaurants, KFC Restaurants, and Pizza Hut Restaurants in China, has published its first-quarter report for...

Why shares of Akerna Corp. (KERN) stock are up today?

Akerna (KERN), a cannabis technology company focusing to connect data points in the global cannabis supply chain and developer of the cannabis industry's first...

Related news

What is behind the fall of Torchlight Energy Resources Inc. (NASDAQ: TRCH) stock?

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), a growth oil and gas exploration company specializing in the acquisition and development of highly profitable domestic oil...

Eros STX Global Corporation (ESGC) stock is declining: Here is the reason why?

Eros STX Global Corporation (NYSE ESGC) a global multinational media company that acquires, produces, and distributes films, television shows, and digital content issued its...

Yum China Holdings Inc. (YUMC): The Most Important Numbers You Should Know

Yum China Holdings Inc. (YUMC), which operates Taco Bell Restaurants, KFC Restaurants, and Pizza Hut Restaurants in China, has published its first-quarter report for...

Why shares of Akerna Corp. (KERN) stock are up today?

Akerna (KERN), a cannabis technology company focusing to connect data points in the global cannabis supply chain and developer of the cannabis industry's first...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.