Botox producer Allergan, Inc. (NYSE:AGN) reported its second quarter earnings today, with substantial all-around growth. Net income rose 19% from the last year to $296 million, or $.96 per share. Earnings would have been $1.07 per share had it not been for some specialty expenses. That beat out Wall Street’s expectations of $1.06 for the quarter. Exchange rates greatly affected AGN’s top-line; revenue increased by 4.8%, however, they would have been 8.7 percent without the headwinds of U.S. currency strength. Sales of Botox and skin-care treatments improved as U.S. consumers’ discretionary spending increased in the second quarter.
The report emboldens investors after Allergan’s negative Q1 report this year, which took most analysts by shock. The company expects full-year earnings of $4.15-$4.19. Allergan shares are up 6% today.
