Investing.com - Perrigo Co (NYSE:PRGO) shares were trading higher on Thursday after the company posted better-than-expected second quarter earnings, a welcome surprise after other generic drug makers have disappointed so far this season.
The company earned $1.22 per share in the quarter, topping analysts expectations by 29 cents. Revenue in the quarter came in at $1.24 billion, a drop of 7.5% versus the comparable quarter but above the analyst consensus estimate by $60 million.
The company also said it expects to post full-year earnings between $4.46 and $4.70 a share, above the analyst forecast for $4.28.