PARSIPPANY, N.J. (AP) _ Zoetis Inc. (ZTS) on Thursday reported second-quarter net income of $512 million.

On a per-share basis, the Parsippany, New Jersey-based company said it had net income of $1.07. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $1.19 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.

The animal health company posted revenue of $1.95 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.83 billion.

Zoetis expects full-year earnings in the range of $4.47 to $4.55 per share, with revenue in the range of $7.63 billion to $7.7 billion.

Zoetis shares have increased 24% since the beginning of the year, while the S&P's 500 index has increased 17%. The stock has climbed 32% in the last 12 months.

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

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News