Amgen exceeds expectations despite lower sales
US biotech major Amgen (Nasdaq: AMGN) reported its third quarter 2022 financial results late Thursday.
Revenues at the Californian company were down 1% compared to the third quarter of 2021, at $6.7 billion. Although volume growth was impressive at 8%, this was offset primarily by 5% lower net selling price and 2% negative impact from foreign exchange.
Analysts had expected the firm’s quarterly revenue to be even lower, at $6.58 billion, while they had predicted adjusted earnings per share (EPS) to be $4.45, below the $4.70 that Amgen reported.
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