RAHWAY, N.J. (AP) — RAHWAY, N.J. (AP) — Merck & Co. (MRK) on Tuesday reported fourth-quarter profit of $2.96 billion.
On a per-share basis, the Rahway, New Jersey-based company said it had net income of $1.19. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, came to $2.04 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.03 per share.
The pharmaceutical company posted revenue of $16.4 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $16.19 billion.
Merck expects full-year earnings in the range of $5 to $5.15 per share, with revenue in the range of $65.5 billion to $67 billion.
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