Zoetis: 1Q Earnings Snapshot

PARSIPPANY, N.J. (AP) _ Zoetis Inc. (ZTS) on Wednesday reported first-quarter earnings of $423 million.

On a per-share basis, the Parsippany, New Jersey-based company said it had net income of 88 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 95 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.

The animal health company posted revenue of $1.53 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.52 billion.

Zoetis expects full-year earnings in the range of $3.17 to $3.42 per share, with revenue in the range of $5.95 billion to $6.25 billion.

Zoetis shares have declined almost 1% since the beginning of the year, while the Standard & Poor's 500 index has decreased 11%. The stock has climbed 27% 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 ZTS at https://www.zacks.com/ap/ZTS