{"id":44884,"date":"2023-08-05T14:26:42","date_gmt":"2023-08-05T18:26:42","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/amneal-pharma-shares-rise-24-after-2q-revenue-beat-higher-guidance\/"},"modified":"2023-08-05T14:26:43","modified_gmt":"2023-08-05T18:26:43","slug":"amneal-pharma-shares-rise-24-after-2q-revenue-beat-higher-guidance","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=44884","title":{"rendered":"Amneal Pharma Shares Rise 24% After 2Q Revenue Beat, Higher Guidance"},"content":{"rendered":"
\n

By Chris Wack<\/p>\n

<\/pre>\n
Shares of Amneal Pharmaceuticals were up 24% at $4.17 after the company reported second-quarter revenue that beat expectations.<\/p>\n
The stock hit its 52-week high of $4.22 earlier in the session, and is up 19% in the past 12 months.<\/p>\n
\n
The New Jersey-based pharmaceutical company reported quarterly earnings of $11.9 million, or 8 cents a share, compared with a loss of $120.8 million, or 80 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of 15 cents a share.<\/p>\n
Revenue for the quarter was $599 million, compared with last year’s $559.4 million and the $565.1 million analysts were expecting.<\/p>\n
The company said the increase in revenue was driven by generics growth due to the durability of its diversified, complex portfolio and new product launches, including biosimilars.<\/p>\n
Amneal raised its 2023 revenue guidance to $2.3 billion to $2.4 billion, from its original estimate of $2.25 billion to $2.35 billion. Analysts have forecast 2023 revenue of $2.325 billion. The company also raised its adjusted earnings outlook to $45 cents to 55 cents a share, from 40 cents to 50 cents. Analysts are expecting adjusted earnings of 47 cents a share.<\/p>\n
<\/pre>\n
Write to Chris Wack at chris.wack@wsj.com<\/p>\n
<\/pre>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
By Chris Wack Shares of Amneal Pharmaceuticals were up 24% at $4.17 after the company reported second-quarter revenue that beat expectations. The stock hit its 52-week high of $4.22 earlier in the session, and is up 19% in the past 12 months. The New Jersey-based pharmaceutical company reported quarterly earnings of $11.9 million, or 8 […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-44884","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nAmneal Pharma Shares Rise 24% After 2Q Revenue Beat, Higher Guidance | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Chris Wack Shares of Amneal Pharmaceuticals were up 24% at $4.17 after the company reported second-quarter revenue that beat expectations. 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