THOUSAND OAKS, Calif. (AP) — THOUSAND OAKS, Calif. (AP) — Amgen Inc. (AMGN) on Tuesday reported second-quarter earnings of $1.43 billion.
The Thousand Oaks, California-based company said it had net income of $2.65 per share. Earnings, adjusted for non-recurring costs, came to $6.02 per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $5.26 per share.
The world’s largest biotech drugmaker posted revenue of $9.18 billion in the period, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $8.87 billion.
Amgen expects full-year earnings in the range of $20.20 to $21.30 per share, with revenue in the range of $35 billion to $36 billion.
Amgen shares have increased 15% since the beginning of the year, while the S&P’s 500 index has risen 7%. In the final minutes of trading on Tuesday, shares hit $299.74, a fall of almost 8% 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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