Dublin, Ireland-based Allergan plc AGN is engaged in the development, manufacturing, marketing, sale and distribution of branded, biosimilar and over-the-counter (OTC) pharmaceutical products.Allergan has been actively pursuing deals to expand its portfolio especially its branded products offering. Having completed the acquisition of companies like Durata and Forest, Allergan acquired Botox maker, Allergan Inc., in Mar 2015. With this acquisition, Allergan, which was previously known for its strong presence in the generics market, finds itself in the company of the top 10 pharmaceutical companies across the world based on sales.Meanwhile, Allergan expects to complete the sale of its generics business to Teva by Jun 2016. Allergan is treating its generics business as discontinued operations from the third quarter of 2015.In the trailing four quarters, Allergan posted an average positive earnings surprise of 5.48%. In fact, it beat earnings estimates on three occasions, while posting in line results in one.Currently, Allergan has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:Earnings Beat: Allergan’s first-quarter earnings of $3.04 per share were above our consensus estimate of $2.99 per share.Revenues Fall Short: Revenues, however, missed expectations. Allergan posted revenues of $3.79 billion, compared to our consensus estimate of $3.96 billion.Key Stats: Branded products like Botox, Restasis and Namenda XR brought in sales of $637.5 million, $313.7 million and $173.1 million, respectively.2016 Outlook: For 2016, Allergan continues to expect total net revenues from continuing operations of about $17 billion. The Zacks Consensus Estimate for revenues is currently $16.95 billion. Branded net revenues are expected to be approximately $15 billion in 2016.Announces Share Buyback Program: Allergan also announced a new share buyback program of up to $10 billion. The buyback will start only after the closing of the Teva deal.Check back later for our full write up on this AGN earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ALLERGAN PLC (AGN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research