Zoetis Q3 Adj. Profit Tops View; Backs FY14 Earnings View - Quick Facts

(RTTNews) - Zoetis Inc. (ZTS), the former animal health business of Pfizer Inc. (PFE), reported that its net income for the third quarter increased 27% to $166 million or $0.33 per share, from $131 million or $0.26 per share in the prior year period.

Adjusted net income for the latest third quarter of 2014 improved to $207 million, or $0.41 per share, from $172 million or $0.34 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter rose 10% to $1.21 billion from $1.10 billion in the year ago quarter. Wall Street analysts had a consensus revenue estimate of $1.16 billion for the quarter.

Looking ahead for 2014, the company still expects earnings per share to be in the range of $1.16 to $1.20 per share and adjusted earnings in the range of $1.50 to $1.54 per share.

The company now expects revenue of $4.70 billion to $4.75 billion. Earlier, the company expected revenue of $4.68 billion to $4.75 billion.

Wall Street currently is looking for fiscal year 2014 earnings of $1.52 per share on annual revenues of $4.72 billion.