Amgen posts surging third-quarter profits

29 October 2015

US biotech giant Amgen (Nasdaq: AMGN) late yesterday announced financial results for the third quarter of 2015, with net income surging 50% over the like 2014 quarter to $1.86 billion.

Adjusted earnings per share (EPS) grew 18% to $2.72, well ahead of average analysts’ forecasts of $2.38, driven by higher revenues and higher operating margins. Adjusted operating income increased 19% to $2.69 billion and adjusted operating margin improved by 2 percentage points to 49%.

Generally-accepted accounting principles (GAAP) EPS was $2.44 compared to $1.61 and GAAP operating income was $2.34 billion compared to $1.47 million. The prior year was negatively impacted by charges for the restructuring plan announced in the third quarter of 2014.

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