Mylan NV (NASDAQ:MYL) stock was up on Wednesday following the release of its earnings report for the first quarter of 2018.
During the first quarter of the year, Mylan NV reported earnings per share of 96 cents. This is an increase over its earnings per share of 93 cents from the same time last year. However, it just missed Wall Street’s earnings per share estimate of 97 cents for the first quarter of 2018.
Net income reported by Mylan NV for the first quarter of 2018 came in at $87.10 million. The drug maker’s net income reported in the first quarter of 2017 was $66.4 million. Operating income for the quarter was $155.70 million. Operating income from the same period of the year prior was $227.70 million.
Mylan NV’s earnings report for the first quarter of the year includes revenue of $2.65 billion. This is down slightly from its revenue of $2.69 billion that was reported in the same quarter of the previous year. It also failed to reach analysts’ revenue estimate of $2.75 billion for the period.
Mylan NV notes that its revenue for the first quarter of 2018 was partially hurt by a shortage of allergy drugs, including EpiPen. Total sales in North America came in at $985.30 million, which is down 19% from the same time last year.
While overall and North America revenue was down for the first quarter of the year, Mylan NV did see some growth overseas. The company notes that its sales for Europe came in at $1.04 billion. This is up 16% from sales in the area for the first quarter of 2017.
MYL stock was up 4% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
