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.
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
Keywords: Valeant Pharmaceuticals, Earnings Report