Amgen Soars 12% on Strong Quarterly Results and Promising Drug Updates
Friday, 3 May 2024, 22:15
First-quarter beats, and exciting news from the pipeline
- Amgen's revenue grew by 22% to $7.4 billion in the first quarter, with strong sales across various products.
- Adjusted earnings per share exceeded analyst estimates at $3.96, even though overall earnings slipped by 1%.
Guidance broadly met expectations
- Amgen expects revenue of $32.5 billion to $33.8 billion for 2024, with an adjusted EPS of $19 to $20.20.
- Analysts foresee slightly lower figures but remain positive about Amgen's future.
Investors responded positively to Amgen's growth and drug pipeline updates, leading to a notable 12% increase in the stock price.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.