Assertio: Q2 Earnings Snapshot

August 8, 2022 GMT

LAKE FOREST, Ill. (AP) _ Assertio Holdings, Inc. (ASRT) on Monday reported second-quarter net income of $7.8 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Lake Forest, Illinois-based company said it had profit of 16 cents.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The drugmaker posted revenue of $35.1 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $31.6 million.

Assertio expects full-year revenue in the range of $129 million to $137 million.

The company’s shares closed at $3.99. A year ago, they were trading at $1.26.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ASRT at https://www.zacks.com/ap/ASRT