FLORHAM PARK, New Jersey — Zoetis Inc. (ZTS) on Tuesday reported third-quarter earnings of $189 million.
The Florham Park, New Jersey-based company said it had net income of 38 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 50 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The animal health company posted revenue of $1.21 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.18 billion.
Zoetis expects full-year earnings in the range of $1.70 to $1.74 per share, with revenue in the range of $4.7 billion to $4.75 billion.
Zoetis shares have climbed almost 3 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2 percent. The stock has risen 19 percent in the last 12 months.
Keywords: Zoetis, Earnings Report