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Why Teva Pharmaceutical Stock Is Sliding Today

TheMotleyFool

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Why Teva Pharmaceutical Stock Is Sliding Today: https://g.foolcdn.com/editorial/images/719919/pharmacist-looking-in-shelves.jpg

Shares of Teva Pharmaceutical Industries (NYSE: TEVA) were sliding 5.4% lower as of 11:47 a.m. ET on Wednesday. The decline came after the drugmaker announced its 2022 full-year and fourth-quarter results.

Teva reported fourth-quarter revenue of $3.88 billion, down 5% year over year. The consensus estimate was for Q4 revenue of $3.93 billion.

The company posted a net loss in the fourth quarter of $1.22 billion, or $1.10 per share, based on generally accepted accounting principles (GAAP). Teva recorded non-GAAP earnings of $791 million, or $0.71 per share. This non-GAAP figure met analysts' expectations.

Source Fool.com

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