THOUSAND OAKS, Calif. (AP) — THOUSAND OAKS, Calif. (AP) — Amgen Inc. (AMGN) on Tuesday reported third-quarter net income of $1.73 billion.
The Thousand Oaks, California-based company said it had profit of $3.22 per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were $4.96 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $4.65 per share.
The world’s largest biotech drugmaker posted revenue of $6.9 billion in the period, missing Street forecasts. Nine analysts surveyed by Zacks expected $6.96 billion.
Amgen expects full-year earnings in the range of $18.20 to $18.80 per share, with revenue in the range of $28 billion to $28.4 billion.
Amgen shares have risen slightly since the beginning of the year, while the S&P’s 500 index has climbed 8.5%. The stock has dropped nearly 4% in the last 12 months.
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