RAHWAY, N.J. (AP) — RAHWAY, N.J. (AP) — Merck & Co. (MRK) on Thursday reported first-quarter earnings of $2.82 billion.
On a per-share basis, the Rahway, New Jersey-based company said it had profit of $1.11. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to $1.40 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.
The pharmaceutical company posted revenue of $14.49 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $13.84 billion.
Merck expects full-year earnings in the range of $6.88 to $7 per share, with revenue in the range of $57.7 billion to $58.9 billion.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRK at https://www.zacks.com/ap/MRK
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.