News Formal

Amgen’s stock jumps premarket after earnings beat and company again raises guidance

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.

Amgen Inc.’s stock AMGN, +0.62% rose 2.9% in premarket trade Tuesday, after the biotech blew past earnings estimates for the third quarter and again raised its guidance. The company posted net income of $1.730 billion, or $3.22 a share, for the quarter, down from $2.143 billion, or $3.98 a share, in the year-earlier period. Adjusted per-share earnings came to $4.96, well ahead of the $4.68 FactSet consensus. Revenue climbed to $6.903 billion from $6.652 billion, close to the $6.

923 billion FactSet consensus. Sales of the company’s Enbrel, which is used to treat autoimmune diseases, fell 6%. Repatha, a treatment for high cholesterol, saw sales climb 31%, while osteoporosis treatment Prolio saw sales rise 14%. Amgen is now expecting full-year adjusted EPS of $18.20 to $18.80 and revenue of $28.0 billion to $28.4 billion. The FactSet consensus is for EPS of $18.36 and revenue of $27.6 billion. The stock has gained 0.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Healthpeak Properties and Physicians Realty to combine in $21 all-stock merger of equalsCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »

S&P Global upgrades Ford’s rating and restores it to investment gradeCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »