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Mylan tops 3Q profit and revenue expectations

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CANONSBURG, Pennsylvania — CANONSBURG, Pennsylvania — Mylan Inc. (MYL) on Thursday reported earnings of $499.1 million in its third quarter.

On a per-share basis, the Canonsburg, Pennsylvania-based company said it had profit of $1.26. Earnings, adjusted for one-time gains and costs, came to $1.16 per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.

The generic drugmaker posted revenue of $2.08 billion in the period, also exceeding Street forecasts. Analysts expected $2.07 billion, according to Zacks.

For the current quarter ending in December, Mylan expects its per-share earnings to range from $1.03 to $1.09.

The company expects full-year earnings in the range of $3.54 to $3.60 per share, with revenue ranging from $7.7 billion to $7.8 billion.

Mylan shares have climbed 21 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 8 percent. In the final minutes of trading on Thursday, shares hit $52.37, a rise of 36 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. MYL stock research report from Zacks.

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Keywords:Mylan,Earnings Report

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