12:51 PM EDT, 05/08/2024 (MT Newswires) -- (Updates with stock movement in headline and first paragraph.)

Teva Pharmaceutical Industries ( TEVA ) shares were up 14.5% in recent Wednesday trading after reporting Q1 non-GAAP earnings of $0.48 per diluted share, up from $0.40 a year earlier.

Analysts polled by Capital IQ expected $0.51.

Revenue for the quarter ended March 31 was $3.82 billion, up from $3.66 billion a year earlier.

Analysts surveyed by Capital IQ projected $3.74 billion.

The drugmaker said it continues to expect full-year 2024 non-GAAP earnings of $2.20 to $2.50 per diluted share on revenue of $15.7 billion to $16.3 billion. Analysts polled by Capital IQ expect normalized EPS of $2.36 on revenue of $15.86 billion.

Price: 15.97, Change: +2.02, Percent Change: +14.48