On Tuesday, Zoetis Inc. announced increased profit in the last quarter due to a rise in revenue. However, earnings did not meet analysts' expectations. Furthermore, the company's projected annual earnings fell short of the consensus estimates.
Zoetis, an animal health company, reported a profit of $525 million or $1.14 per share in the fourth quarter. This indicates an increase from $461 million or $0.99 per share in the same quarter of the previous year. Excluding one-time elements, earnings were $569 million, or $1.24 per share, which fell short of the average estimate of $1.32 per share, as forecasted by analysts polled by Thomson-Reuters. It should be noted that analysts' estimates usually exclude special items.
The Company's revenue for the quarter saw a rise of 8 percent, reaching $2.213 billion, which exceeded the consensus estimate of $2.19 billion.
Moving ahead, Zoetis predicts its full-year adjusted earnings to range between $5.74 and $5.84 per share. The year's revenue is estimated to be within the bracket of $9.075 billion and $9.225 billion. Nonetheless, analysts expect the company to report a profit of $5.98 per share on a revenue of $9.2 billion for the year.
