Petach Tikva, Israel-based Teva Pharmaceutical Industries Limited TEVA is a global pharmaceutical company with a strong presence in the generics as well as branded markets. Teva’s main branded products include Copaxone (multiple sclerosis) and Azilect (Parkinson’s disease). Besides this, Teva’s branded product portfolio consists of respiratory products like ProAir, a short-acting beta-agonist for the treatment of bronchial spasms and exercise-induced bronchospasm, and Qvar, an inhaled corticosteroid for long-term control of chronic bronchial asthma.Moreover, the company has several candidates in its pipeline, which are in different stages of development for the treatment of multiple sclerosis (MS) and asthma.Teva has signed an agreement to acquire Allergan’s generics business (Actavis Generics) for $40.5 billion. The deal is slated to close in Jun 2016.Teva’s earnings track record has been good with the company delivering positive earnings surprises in three of the last four quarters with an average surprise of 5.44%.Currently, TEVA has a Zacks Rank #4 (Sell), but that could definitely change following the company’s full earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:Earnings Beat: TEVA’s first quarter earnings came in at $1.20 per share, beating consensus estimates of $1.13.Revenues Beat: Teva posted revenues of $4.81 billion, surpassing consensus estimates of $4.75 billion.Key Stats: Currency fluctuations cut first quarter revenues by about $107 million. Lead branded product, Copaxone, posted worldwide sales of $1 billion, up 9%. Meanwhile, generic revenues declined during the quarter.2Q16 Outlook: The company provided its outlook for the second quarter of 2016 – while earnings are expected in the range of $1.16 - $1.20 per share, revenues are expected in the range of $4.7-$4.9 billion. Guidance includes the impact of the Rimsa acquisition and the Teva-Takeda business venture, but not of the Actavis Generics acquisition. The Zacks Consensus Estimate for second quarter 2016 earnings and revenue are $1.21 per share and $5.45 billion, respectively.Check back later for our full write up on this TEVA 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 TEVA PHARM ADR (TEVA): Free Stock Analysis Report To read this article on Zacks.com click here.