THOUSAND OAKS, Calif. (AP) — THOUSAND OAKS, Calif. (AP) — Amgen Inc. (AMGN) on Tuesday reported third-quarter profit of $3.22 billion.
On a per-share basis, the Thousand Oaks, California-based company said it had net income of $5.93. Earnings, adjusted for non-recurring gains, were $5.64 per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $5 per share.
The world’s largest biotech drugmaker posted revenue of $9.56 billion in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $8.94 billion.
Amgen expects full-year earnings in the range of $20.60 to $21.40 per share, with revenue in the range of $35.8 billion to $36.6 billion.
Amgen shares have climbed 13% since the beginning of the year, while the S&P’s 500 index has climbed 15%. In the final minutes of trading on Tuesday, shares hit $295.63, a drop of nearly 7% 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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