tiprankstipranks
TEVA Plunges on Q1 Results
Market News

TEVA Plunges on Q1 Results

Shares of Teva Pharmaceutical (NYSE:TEVA) are down today after it reported earnings for its first quarter of Fiscal Year 2023. Adjusted earnings per share came in at $0.40, which missed analysts’ consensus estimate of $0.56 per share. Sales were flat year-over-year, with revenue hitting $3.7 billion. This was $110 million above expectations.

Don't Miss our Black Friday Offers:

Looking forward, management now expects revenue and adjusted EPS for Fiscal Year 2023 to be in the ranges of $14.8 billion to $15.4 billion and $2.25 to $2.55, respectively. For reference, analysts were expecting $14.92 billion in revenue and an EPS figure of $2.40.

A look at the past five trading days for TEVA stock highlights the level of impact today’s news had on it. Indeed, shares fell over 7% at the time of writing. As a result, investors are now down 3.66% during this timeframe.

Disclosure

Related Articles
TheFlyTeva put volume heavy and directionally bearish
TipRanks Auto-Generated NewsdeskTeva Pharmaceutical Strengthens Board with New Appointment
TheFlyTeva selloff brings good entry point, says UBS
Go Ad-Free with Our App