Amgen slides 3.6% post-market, following 1ST-qtr results

27 April 2017

Amgen (Nasdaq: AMGN) posted first-quarter 2017 financial results late Tuesday which failed to impress the financial/investor community, sending the firm’s share down 3.6% to $158.68 in after-hours trading.

The US biotech major reported that first-quarter better-than-expected net income at $2.1 billion in the first quarter, compared with $1.9 billion in the like year-earlier quarter. Earnings per share (EPS) were $3.15 per share excluding one-time items, well-beating the $3.01 average of analysts’ estimates compiled by Bloomberg.

Generally-accepted accounting principles (GAAP) earnings per share (EPS) increased 12% to $2.79 driven by higher operating margins.

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