Allergan PLC shares rose 1.2% in premarket trade Tuesday after the company reported fourth-quarter profit and revenue beats. Earnings for the latest quarter came to $3.05 billion, or $8.88 per share, after a loss of $70.2 million, or a loss of 20 cents per share in the year-earlier period. Adjusted earnings-per-share were $4.86, compared with the FactSet consensus of $4.74. Revenue rose to $4.33 billion from $3.86 billion, compared with the FactSet consensus of $4.28 billion. The latest results included higher revenue from Botox, Juvederm, Alloderm and CoolSculpting and new products, Allergan said, and was partially offset by lower revenues due to patent exclusivity losses and continuing declines for Aczone and Namenda XR. Allergan expects 2018 revenue of $15 billion to $15.3 billion, compared with the FactSet consensus of $15.33 billion, and a 2018 loss per share of $2.27 to $1.52, compared with the FactSet consensus of a loss per share of $2.13. Allergan received a net provisional benefit of about $2.8 billion related to the U.S.’s corporate tax overhaul, which includes a $730 million provisional expense related to repatriated earnings and a $3.5 billion net reduction of U.S. deferred tax liabilities, among other things. Allergan also reported positive late-stage trial results for its migraine drug early Tuesday. Allergan shares have dropped 5.4% to $165.00 over the last three months, compared with a 2.2% rise in the S&P 500 and a 3.4% rise in the Dow Jones Industrial Average .
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