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Amgen: 2Q Earnings Snapshot

July 30, 2019

THOUSAND OAKS, Calif. (AP) _ Amgen Inc. (AMGN) on Tuesday reported second-quarter profit of $2.18 billion.

The Thousand Oaks, California-based company said it had profit of $3.57 per share. Earnings, adjusted for non-recurring costs, came to $3.97 per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.58 per share.

The world’s largest biotech drugmaker posted revenue of $5.87 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $5.68 billion.

Amgen expects full-year earnings in the range of $13.75 to $14.30 per share, with revenue in the range of $22.4 billion to $22.9 billion.

Amgen shares have decreased 9.5% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. In the final minutes of trading on Tuesday, shares hit $176.15, a drop of roughly 8% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMGN at https://www.zacks.com/ap/AMGN

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