Merck & Co comes up short in sales and earnings
US pharma major Merck & Co (NYSE: MRK) became the latest drugmaker to announce disappointing, pandemic-hit first quarter 2021 financial results, sending shares in the company down by 3% in Thursday’s early trading.
Overall revenue at the group inched up to $12.08 billion from $12.06 billion, but was below the FactSet consensus of $12.61 billion, as pharmaceutical sales edged up 0.2% to $10.68 billion.
Excluding non-recurring items, adjusted earnings per share (EPS) fell to $1.40 from $1.51, heavily missing the FactSet consensus of an increase to $1.61.
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