Zoetis Second Quarter Profit Climbs 6.3%
Zoetis Inc. reported profit that rose by 6.3 percent in its second quarter, and fell short of analysts' expectations.
The Florham Park, New Jersey-based company said earnings increased to $136 million, or 27 cents per share, from $128 million, or 26 cents per share, in the same quarter a year ago.
Earnings, adjusted for non-recurring costs, were 38 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The animal health company said revenue climbed 3.9 percent to $1.16 billion from $1.11 billion in the same quarter a year ago.
Zoetis shares have climbed 55 cents, or 1.7 percent, to $33.24 since the beginning of the year, while the Standard & Poor's 500 index has risen 4.9 percent. The stock has increased $1.99, or 6.4 percent, in the last 12 months.