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PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — Zoetis Inc. (ZTS) on Thursday reported third-quarter net income of $596 million.…
PARSIPPANY, N.J. (AP) — PARSIPPANY, N.J. (AP) — Zoetis Inc. (ZTS) on Thursday reported third-quarter net income of $596 million.
On a per-share basis, the Parsippany, New Jersey-based company said it had net income of $1.29. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $1.36 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The animal health company posted revenue of $2.15 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $2.17 billion.
Zoetis expects full-year earnings in the range of $5.38 to $5.43 per share, with revenue in the range of $8.48 billion to $8.55 billion.
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