RAHWAY, N.J. (AP) 鈥� RAHWAY, N.J. (AP) 鈥� Merck & Co. (MRK) on Tuesday reported a loss of $1.34 billion in its second quarter.
On a per-share basis, the Rahway, New Jersey-based company said it had a loss of 54 cents. Losses, adjusted for one-time gains and costs, were 13 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.
The pharmaceutical company posted revenue of $16.61 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $16.33 billion.
Merck expects full-year earnings in the range of $2.66 to $2.76 per share, with revenue in the range of $66.3 billion to $67.3 billion.
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