LAVAL, Quebec (AP) – Valeant Pharmaceuticals International Inc. is reporting first-quarter net income of $628 million, after reporting a loss in the same period a year earlier.
The company said it had profit of $1.79 per share. Earnings, adjusted for non-recurring costs, were $2.80 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The drugmaker posted revenue of $2.11 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $2.16 billion.
Shares of the Laval, Quebec, company surged in premarket trading.
_____
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 https://www.zacks.com/ap/VRX
_____
Keywords: Valeant Pharmaceuticals, Earnings Report