Shares soar as COVID-19 drug drives Merck & Co to expectation-busting quarter
Merck & Co (NYSE: MRK) has far exceeded estimates with its sales and earnings figures for the first quarter of 2022, sending shares up by 4% in Thursday morning’s trading.
Revenue rocketed by 50% compared to the first quarter of 2021, coming in at $15.9 billion, where analysts’ average estimates compiled by Refinitiv were for $14.68 billion.
Adjusted earnings were $2.14 per share, up 84% and well ahead of the $1.83 expected by analysts.
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