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Allergan reports 2Q loss

Allergan reports 2Q loss

TAIPEI: Allergan PLC (AGN) on Thursday reported a loss of $725.9 million in its second quarter.

On a per-share basis, the Dublin-based company said it had a loss of $2.37. Earnings, adjusted for one-time gains and costs, came to $4.02 per share.

The results surpassed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $3.95 per share. The Botox maker posted revenue of $4.01 billion in the period, which also beat Street forecasts. Nineteen analysts surveyed by Zacks expected $3.95 billion.

Allergan expects full-year earnings in the range of $16.05 to $16.45 per share, with revenue in the range of $15.85 billion to $16.05 billion.

Allergan shares have climbed 19 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 11 percent. The stock has dropped slightly in the last 12 months.