Sanofi SA (ADR) (NYSE:SNY) stock was down Friday on disappointing sales reported in the first quarter of 2018.
Sanofi SA (ADR)’s revenue for the first quarter of the year came in at roughly $9.71 billion. This is down 8.7% from the company’s revenue reported in the first quarter of 2017. It also wasn’t good news fro SNY stock by coming in below Wall Street’s revenue estimate of $9.96 billion for the period.
Sanofi SA (ADR) says that the negative effect on its sales for the first quarter of 2018 was mostly due to currency exchange rates. It notes that the changes for the U.S. Dollar, Brazilian Real, Chinese Yuan, Japanese Yen and Argentine Peso hurt revenue by 8.3% during the quarter.
Another tough spot for Sanofi SA (ADR) in the first quarter of the year was sales from its Diabetes and Cardiovascular drugs. The company points out that sales for the market were only $1.32 billion. This represents a 15.7% drop from its Diabetes and Cardiovascular sales reported in the same period of the year prior.
Despite all the bad news for Sanofi SA (ADR) in its earnings report for the first quarter of 2018, there was one bright area. This was the company’s earnings per share for the period, which came in at 79 cents. This is an improvement over its earnings per share of 75 cents from the first quarter of the previous year. It also beats out analysts’ earnings per share estimate of 74 cents for the first quarter of the year.
SNY stock was down 2% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.