Market Commentary and Intraday News
Amgen posts higher 2Q sales, profit to beat views
302 days ago
By The Associated Press
(AP:THOUSAND OAKS, Calif.) Amgen Inc. says its second-quarter net income rose 8 percent as the world's largest biotech company posted higher sales for its top-selling drug and two new ones added to revenue. The results were far above Wall Street expectations.
The maker of osteoporosis drug Prolia and Enbrel for inflammatory disorders says net income was $1.27 billion, or $1.61 per share, up from $1.17 billion, or $1.25 per share, a year earlier.
Excluding one-time items, Amgen says net income was $1.43 billion, or $1.83 per share, up from $1.28 billion, or $1.37 per share, in 2011's second quarter.
Revenue totaled $4.48 billion, up 13 percent.
Analysts were expecting, on average, earnings per share of $1.54, excluding one-time items, and revenue of $4.08 billion.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.