Amgen tops Street 3Q forecasts

THOUSAND OAKS, Calif. – THOUSAND OAKS, Calif. (AP) _ Amgen Inc. (AMGN) on Thursday reported third-quarter net income of $2.02 billion.

The Thousand Oaks, California-based company said it had profit of $2.68 per share. Earnings, adjusted for non-recurring costs, came to $3.02 per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.79 per share.

The world’s largest biotech drugmaker posted revenue of $5.81 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $5.74 billion.

Amgen expects full-year earnings in the range of $11.40 to $11.55 per share, with revenue in the range of $22.6 billion to $22.8 billion.

Amgen shares have declined 1 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 4 per cent. In the final minutes of trading on Thursday, shares hit $160.49, a drop of almost 1 per cent in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on AMGN at


Keywords: Amgen, Earnings Report, Priority Earnings