Teva Pharma's Stock Soars On Q2 Profit Beat, Highlights Strong Growth From Austedo
Portfolio Pulse from Vandana Singh
Teva Pharmaceutical Industries Ltd's Q2 sales reached $3.88 billion, up 2% Y/Y, slightly beating the consensus of $3.70 billion. Austedo sales are up 51% in North America to $308 million. The company revised its FY23 revenue forecast to $15.0-$15.4 billion from $14.8-$15.4 billion. TEVA shares are up 10% at $9.12.
August 04, 2023 | 11:23 am
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POSITIVE IMPACT
Teva's Q2 sales beat estimates, driven by strong growth from Austedo. The company revised its FY23 revenue forecast upwards, which could positively impact the stock.
Teva's Q2 sales beat estimates, largely driven by strong growth from Austedo. This positive earnings report, coupled with an upward revision of the FY23 revenue forecast, could lead to increased investor confidence and a potential rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100