THOUSAND OAKS, Calif. (AP) — THOUSAND OAKS, Calif. (AP) — Amgen Inc. (AMGN) on Tuesday reported fourth-quarter profit of $1.33 billion.
On a per-share basis, the Thousand Oaks, California-based company said it had profit of $2.45. Earnings, adjusted for non-recurring costs, were $5.29 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $4.76 per share.
The world’s largest biotech drugmaker posted revenue of $9.87 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $9.47 billion.
Amgen expects full-year earnings in the range of $21.60 to $23 per share, with revenue in the range of $37 billion to $38.4 billion.
Amgen shares have risen 4% since the beginning of the year, while the S&P’s 500 index has climbed nearly 1%. In the final minutes of trading on Tuesday, shares hit $341.19, a climb of 18% in the last 12 months.
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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 AMGN at https://www.zacks.com/ap/AMGN
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