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Valeant tops Street 3Q forecasts

Valeant Pharmaceuticals beats 3Q earnings and revenue expectations

Valeant tops Street 3Q forecasts

QUEBEC, Quebec (AP) -- Valeant Pharmaceuticals International Inc. (VRX) on Monday reported third-quarter net income of $49.5 million.

The Quebec, Quebec-based company said it had profit of 14 cents per share. Earnings, adjusted for one-time gains and costs, were $2.74 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.68 per share.

The drugmaker posted revenue of $2.79 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $2.77 billion.

For the current quarter ending in, Valeant expects its per-share earnings to range from $4 to $4.20.

The company said it expects revenue in the range of $3.25 billion to $3.45 billion for the fiscal fourth quarter.

Valeant expects full-year earnings in the range of $11.67 to $11.87 per share, with revenue ranging from $11 billion to $11.2 billion.

Valeant shares have climbed 24 percent since the beginning of the year. The stock has increased 48 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VRX at http://www.zacks.com/ap/VRX

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Keywords: Valeant Pharmaceuticals, Earnings Report


Updated : 2021-09-25 09:07 GMT+08:00