ZTS - Why Zoetis Stock Popped by Almost 6% on Thursday
2024-05-02 16:56:00 ET
Investors were meowing for animal healthcare specialist Zoetis (NYSE: ZTS) on Thursday, following the company's release of its latest quarterly results. These obviously pleased market participants, as the stock's price leaped nearly 6% higher over the course of the trading session. That was more than enough to top the performance of the S&P 500 index, which rose by 0.9%.
For its first quarter, Zoetis earned revenue of $2.2 billion, which was a 10% improvement over the same period of 2023. Non- GAAP (adjusted) net income also headed north, by 4% year over year to $634 million ($1.38 per share).
Both figures edged past the average analyst estimate. Collectively, prognosticators following Zoetis stock were modeling $2.15 billion for revenue and $1.35 for adjusted, per-share net income.
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Why Zoetis Stock Popped by Almost 6% on Thursday