LAVAL, Quebec (AP) – Valeant Pharmaceuticals International Inc. (VRX) on Tuesday reported a loss of $302.3 million in its second quarter.
The Laval, Quebec-based company said it had a loss of 88 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.40 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
The drugmaker posted revenue of $2.42 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $2.59 billion.
Valeant expects full-year earnings in the range of $6.60 to $7 per share, with revenue in the range of $9.9 billion to $10.1 billion.
Valeant shares have decreased 78 percent since the beginning of the year. The stock has dropped 91 percent in the last 12 months.
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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
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Keywords: Valeant Pharmaceuticals, Earnings Report