THOUSAND OAKS, Calif. – THOUSAND OAKS, Calif. (AP) _ Amgen Inc. (AMGN) on Wednesday reported second-quarter profit of $1.87 billion.
On a per-share basis, the Thousand Oaks, California-based company said it had profit of $2.47. Earnings, adjusted for non-recurring costs, were $2.84 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.74 per share.
The world’s largest biotech drugmaker posted revenue of $5.69 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $5.6 billion.
Amgen expects full-year earnings in the range of $11.10 to $11.40 per share, with revenue in the range of $22.5 billion to $22.8 billion.
Amgen shares have climbed 5 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 per cent. In the final minutes of trading on Wednesday, shares hit $170.41, a rise of nearly 3 per cent 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 AMGN at http://www.zacks.com/ap/AMGN
Keywords: Amgen, Earnings Report, Priority Earnings