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Jazz misses views, maintains outlook

August 8, 2017

Jazz Pharmaceuticals PLC JAZZ, -2.10% shares dropped in the extended session Tuesday after the biotech company fell short of Wall Street estimates for quarterly results and affirmed its outlook for the year. Jazz shares fell 7.9% to $140.30 after hours. The company reported second-quarter net income of $105.6 million, or $1.72 a share, compared to $114.5 million, or $1.85 a share, in the year-ago period. Adjusted earnings were $2.56 a share. Revenue rose to $394.4 million from $381.6 million in the year-ago period. Analysts surveyed by FactSet had estimated $2.75 a share on revenue of $410.9 million. For the year, Jazz estimates adjusted earnings of $10.70 to $11.30 a share on revenue of $1.63 billion to $1.7 billion. Analysts expect earnings of $11.02 a share on revenue of $1.66 billion.

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