Tags: merck | earning | s profit | drugs

Merck Profit Beats Estimates Despite Lower Profit

Friday, 27 July 2012 08:04 AM

Merck & Co. says its second-quarter net income fell 11.4 percent as slightly higher sales were offset by acquisition and restructuring costs, but the drugmaker beat Wall Street expectations.

The maker of diabetes pill Januvia and asthma and allergy medicine Singulair says net income was $1.79 billion, or 58 cents per share, down from $2.02 billion, or 65 cents per share, a year earlier.

Excluding one-time items, net income was $3.23 billion, or $1.05 per share, up from $2.95 billion, or 95 cents per share, in 2011's second quarter. That beat analysts' expectations of earnings per share of $1.01.

Revenue rose 1.3 percent to $12.31 billion. Analysts polled by FactSet, on average, expected $12.15 billion.

Shares of Merck rose 66 cents to $43.99 in premarket trading.

© Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
Friday, 27 July 2012 08:04 AM
Newsmax Media, Inc.

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved