Teva Pharmaceutical earnings for the fourth quarter of 2018 has TEVA stock falling hard on Wednesday.

Teva Pharmaceutical (NYSE:TEVA) starts off its earnings report for the fourth quarter of the year with earnings per share of 53 cents. This is down from its earnings per share of 93 cents from the same time last year. It was also bad news for TEVA stock by missing Wall Street’s earnings per share estimate of 54 cents for the quarter.

A net loss of $3.24 billion was reported by Teva Pharmaceutical for the fourth quarter of 2018. This is an improvement from the company’s net loss of $11.73 billion that was reported in the fourth quarter of the previous year.

Teva Pharmaceutical earnings for the fourth quarter of 2018 also include an operating loss of $3.16 billion. The pharmaceutical company’s operating loss from the same period of the year prior was $13.02 billion.

The Teva Pharmaceutical earnings report for the fourth quarter of the year also sees revenue coming in at $4.56 billion. This is a drop from the company’s revenue of $5.40 billion reported in the fourth quarter of 2017. However, it does come in above analysts’ revenue estimate of $4.52 billion for the period, but that couldn’t save TEVA stock from falling today.

The most recent Teva Pharmaceutical earnings report also includes its outlook for the full year of 2019. The company is expecting earnings per share between $2.20 and $2.50 on revenue ranging from $17.00 billion to $17.40 billion. That’s a blow to TEVA stock with Wall Street looking for 2019 earnings per share and revenue of $2.81 and $17.93 billion.

TEVA stock was down 9% as of noon Wednesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.