RAHWAY, N.J. (AP) — RAHWAY, N.J. (AP) — Merck & Co. (MRK) on Tuesday reported fourth-quarter net income of $3.74 billion.
On a per-share basis, the Rahway, New Jersey-based company said it had profit of $1.48. Earnings, adjusted for one-time gains and costs, came to $1.72 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.
The pharmaceutical company posted revenue of $15.62 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $15.55 billion.
Merck expects full-year earnings in the range of $8.88 to $9.03 per share, with revenue in the range of $64.1 billion to $65.6 billion.
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