Zoetis Inc. has reported third-quarter profit of $166 million.
On a per-share basis, the Florham Park, New Jersey-based company said it had profit of 33 cents. Earnings, adjusted for non-recurring costs, came to 41 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The animal health company posted revenue of $1.21 billion in the period.
Zoetis expects full-year earnings in the range of $1.50 to $1.54 per share, with revenue in the range of $4.7 billion to $4.75 billion.
Zoetis shares have climbed 15 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 9 percent. The stock has increased 18 percent in the last 12 months.
