Merck's revenue drops 1% but still beats analysts' estimates for 2nd-qtr
Global revenue at pharma giant Merck & Co (NYSE: MRK) slipped 1% but the company has still exceeded analysts’ estimates for the second quarter of 2014.
Over the period, revenue stood at $10.9 billion, which compares favorably with analysts’ expectations of $10.6 billion, with Merck attributing the slight decline to patent expirations. Merck’s shares rose nearly 1%, to $58.50 in pre-market trading.
The company reported generally accepted accounting principles (GAAP) net income of $2 billion, with earnings per share standing at $0.68 for GAAP and $0.85 for non-GAAP. This quarter’s figures have improved on analysts’ expectations: those polled by Thomson Reuters were expecting $0.81 per share while Merck earned $0.85.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze