Merck: raises full-year forecast again
(CercleFinance.com) - Merck reported better-than-expected quarterly revenue and profit, helped by higher demand for its blockbuster cancer drug Keytruda and its vaccines, and raised its forecasts for the third time this year.
Merck raised its earnings per share (EPS) forecast for the year to 5.12-5.17 dollars a share, from 4.84-4.94 dollars per share.
Third-quarter revenue rose 15% to 12.4 billion dollars, beating the consensus of 11.6 billion dollars.
Keytruda sales jumped by 62% to 3.1 billion dollars, while human vaccines sales grew by 17% to 2.5 billion dollars.
The company's third-quarter net profit rose to 3.8 billion dollars, from 3.2 billion a year earlier.
Excluding extraordinary items, Merck earned 1.51 dollar per share, beating the consensus of 1.24 dollar.
Its shares are currently up about 2% in early trading on Wall Street.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Merck raised its earnings per share (EPS) forecast for the year to 5.12-5.17 dollars a share, from 4.84-4.94 dollars per share.
Third-quarter revenue rose 15% to 12.4 billion dollars, beating the consensus of 11.6 billion dollars.
Keytruda sales jumped by 62% to 3.1 billion dollars, while human vaccines sales grew by 17% to 2.5 billion dollars.
The company's third-quarter net profit rose to 3.8 billion dollars, from 3.2 billion a year earlier.
Excluding extraordinary items, Merck earned 1.51 dollar per share, beating the consensus of 1.24 dollar.
Its shares are currently up about 2% in early trading on Wall Street.
Copyright (c) 2019 CercleFinance.com. All rights reserved.