KENILWORTH, N.J. – Merck & Co. (MRK) on Wednesday reported fourth-quarter earnings of $7.32 billion.
The Kenilworth, New Jersey-based company said it had profit of $2.54 per share. Earnings, adjusted for one-time gains and costs, were 87 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The pharmaceutical company posted revenue of $10.48 billion in the period, also topping Street forecasts. Analysts expected $10.41 billion, according to Zacks.
Merck expects full-year earnings in the range of $3.32 to $3.47 per share, with revenue in the range of $38.3 billion to $39.8 billion.
Merck shares have climbed slightly more than 7 per cent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has risen 17 per cent in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRK at http://www.zacks.com/ap/MRK
Keywords: Merck, Earnings Report, Priority Earnings