=Teva Pharma (TEVA) reported earnings on Mon 9 May 2016 (b/o)

Teva Pharma beats by $0.03, reports revs in-line; guides Q2 just below consensus :

• Reports Q1 (Mar) earnings of $1.20 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $1.17; revenues fell 3.5% year/year to $4.81 bln vs the $4.77 bln Capital IQ Consensus. 
  • Generic medicines revenues in the first quarter of 2016 amounted to $2.2 billion, a decrease of 17% compared to the first quarter of 2015. In local currency terms, revenues decreased 15%.
  • Specialty medicines revenues in the first quarter of 2016 amounted to $2.2 billion, an increase of 10% compared to the first quarter of 2015. In local currency terms, revenues increased 11%.
• Co issues downside guidance for Q2, sees EPS of $1.16-1.20, excluding non-recurring items, vs. $1.21 Capital IQ Consensus Estimate; sees Q2 revs of $4.7-4.9 bln vs. $4.91 bln Capital IQ Consensus Estimate. 
• Pending the closing of the Actavis Generics acquisition, we are providing revenue and non-GAAP EPS guidance for the second quarter 2016. This includes the results of the Rimsa acquisition and the Teva-Takeda business venture, but not of the Actavis Generics acquisition. Additional guidance will be provided after closing the Actavis Generics acquisition (June).