PARSIPPANY, N.J. (AP) _ Zoetis Inc. (ZTS) on Thursday reported fourth-quarter profit of $384 million.
On a per-share basis, the Parsippany, New Jersey-based company said it had profit of 80 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 92 cents per share.
The results exceeded 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 $1.67 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.64 billion.
For the year, the company reported profit of $1.5 billion, or $3.11 per share. Revenue was reported as $6.26 billion.
Zoetis expects full-year earnings in the range of $3.90 to $4 per share, with revenue in the range of $6.65 billion to $6.8 billion.
Zoetis shares have risen 8% since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 5%. The stock has increased 63% in the last 12 months.