Amgen's 2nd-qtr 2016 results top analysts' forecasts

28 July 2016

USA-based biotech giant Amgen (Nasdaq: AMGN) has reported second-quarter 2016 financial results which beat forecasts, posting a profit of $1.87 billion, a year-on-year rise of 13%.

The company reported revenue of $5.69 billion, up 5.9% in the reporting period, also exceeding the $5.6 billion of six analysts surveyed by Zacks Investment Research.

Amgen said earnings per share (EPS) on a generally-accepted accounting principles GAPP) basis were $2.47 for the quarter. Earnings, adjusted for non-recurring costs, were $2.84 per share. The results topped the average estimate of 11 analysts surveyed by Zacks was for earnings of $2.74 per share.

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