THOUSAND OAKS, Calif. (AP) 鈥� THOUSAND OAKS, Calif. (AP) 鈥� Amgen Inc. (AMGN) on Tuesday reported second-quarter profit of $2.38 billion.
The Thousand Oaks, California-based company said it had profit of $4.37 per share. Earnings, adjusted for non-recurring costs, came to $6.29 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $5.60 per share.
The world’s largest biotech drugmaker posted revenue of $10.05 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $9.44 billion.
Amgen expects full-year earnings in the range of $22.30 to $23.05 per share, with revenue in the range of $38.2 billion to $39.4 billion.
Amgen shares have climbed 19% since the beginning of the year, while the S&P’s 500 index has climbed 13%. In the final minutes of trading on Tuesday, shares hit $389.61, a climb of 29% in the last 12 months.
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