TEL AVIV, Nov 1 (Reuters) - Israel’s heavily indebted Teva Pharmaceutical Industries reported a smaller-than-expected drop in third-quarter profit on Thursday and raised its earnings outlook for 2018.
The world’s largest generic drugmaker earned 68 cents per share excluding one-time items in the July-September period, down from $1.00 a year earlier. Revenue fell 19 percent to $4.53 billion.
Analysts had forecast Teva would earn 54 cents a share ex-items on revenue of $4.53 billion, according to I/B/E/S data from Refinitiv.
For the full year it raised its forecast for adjusted EPS to $2.80-$2.95 from a previous estimate of $2.55-$2.80. (Reporting by Tova Cohen Editing by Steven Scheer)