FLORHAM PARK, New Jersey — Zoetis Inc. (ZTS) on Tuesday reported a second-quarter loss of $37 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Florham Park, New Jersey-based company said it had a loss of 7 cents. Earnings, adjusted for non-recurring costs, came to 43 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The animal health company posted revenue of $1.18 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.12 billion.
Zoetis expects full-year earnings in the range of $1.63 to $1.68 per share, with revenue in the range of $4.7 billion to $4.78 billion.
Zoetis shares have risen 13 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 2 percent. The stock has increased 48 percent in the last 12 months.
Keywords: Zoetis, Earnings Report