Teva Stock Sinks Despite Walloping Expectations

Teva Stock Skids After Lower-than-Expected Q4 Results

Early Wednesday, Teva stock took a hit as the generic drugmaker reported adjusted income of $1 per share and $4.46 billion in fourth-quarter sales. Analysts had predicted earnings of 77 cents per share and $4.03 billion in sales. This marks an increase from last year’s earnings of 71 cents a share on $3.88 billion in sales. Though Teva’s earnings guidance for the year falls just short of analysts’ estimates, the company projected a higher sales figure at $15.7 billion to $16.3 billion compared to the projected $15.57 billion. As a result, Teva stock fell by 2.1% in premarket trades.