THOUSAND OAKS, Calif. (AP) — THOUSAND OAKS, Calif. (AP) — Amgen Inc. (AMGN) on Wednesday reported third-quarter net income of $2.83 billion.
On a per-share basis, the Thousand Oaks, California-based company said it had profit of $5.22. Earnings, adjusted for non-recurring costs, came to $5.58 per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $5.11 per share.
The world’s largest biotech drugmaker posted revenue of $8.5 billion in the period, which missed Street forecasts. Eleven analysts surveyed by Zacks expected $8.51 billion.
Amgen expects full-year earnings in the range of $19.20 to $20 per share, with revenue in the range of $33 billion to $33.8 billion.
Amgen shares have climbed roughly 10% since the beginning of the year, while the S&P’s 500 index has climbed 22%. In the final minutes of trading on Wednesday, shares hit $316.05, a climb of 20% 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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