RAHWAY, N.J. (AP) — RAHWAY, N.J. (AP) — Merck & Co. (MRK) on Thursday reported third-quarter profit of $3.16 billion.
On a per-share basis, the Rahway, New Jersey-based company said it had profit of $1.24. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, were $1.57 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
The pharmaceutical company posted revenue of $16.66 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $16.55 billion.
Merck expects full-year earnings in the range of $7.72 to $7.77 per share, with revenue in the range of $63.6 billion to $64.1 billion.
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