Amgen Earnings: Here’s Why Shares are Down Now
Amgen Inc. (NASDAQ:AMGN) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.87%.
Amgen Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 21.74% to $1.96 in the quarter versus EPS of $1.61 in the year-earlier quarter.
Revenue: Rose 4.69% to $4.24 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Amgen Inc. reported adjusted EPS income of $1.96 per share. By that measure, the company beat the mean analyst estimate of $1.84. It missed the average revenue estimate of $4.37 billion.
Quoting Management: “We are on track to deliver our full-year growth objectives,” said Robert A. Bradway, chairman and chief executive officer at Amgen. “In addition, our key pipeline projects are progressing well and we are looking forward to clinical results from ongoing trials.”
Key Stats (on next page)…