RAHWAY, N.J. (AP) — RAHWAY, N.J. (AP) — Merck & Co. (MRK) on Tuesday reported a loss of $5.98 billion in its second quarter.
On a per-share basis, the Rahway, New Jersey-based company said it had a loss of $2.35. Losses, adjusted for costs related to mergers and acquisitions and restructuring costs, were $2.06 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $2.17 per share.
The pharmaceutical company posted revenue of $15.04 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $14.39 billion.
Merck expects full-year earnings in the range of $2.95 to $3.05 per share, with revenue in the range of $58.6 billion to $59.6 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 This material may not be published, broadcast, written or redistributed.
