Shares of Teva Pharmaceutical (NYSE:TEVA) are down today after it reported earnings for its first quarter of Fiscal Year 2023. Adjusted earnings per share came in at $0.40, which missed analysts’ consensus estimate of $0.56 per share. Sales were flat year-over-year, with revenue hitting $3.7 billion. This was $110 million above expectations.
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Looking forward, management now expects revenue and adjusted EPS for Fiscal Year 2023 to be in the ranges of $14.8 billion to $15.4 billion and $2.25 to $2.55, respectively. For reference, analysts were expecting $14.92 billion in revenue and an EPS figure of $2.40.
A look at the past five trading days for TEVA stock highlights the level of impact today’s news had on it. Indeed, shares fell over 7% at the time of writing. As a result, investors are now down 3.66% during this timeframe.