Amgen earnings coverage
With the recent launch of new products, sales improved 4% to $6.05 billion while profits jumped 17% touching $3.83 per share due to strong product sales. Free cash flow for the quarter came in at $1.9 billion, down 9.5% compared to last year due to increased tax outgo. Selling, General & Administrative expenses increased 12% due to product launches and increased marketing costs.
With the recent launch of new products, sales improved 4% to $6.05 billion while profits jumped 17% touching $3.83 per share due to strong product sales. Free cash flow for the quarter came in at $1.9 billion, down 9.5% compared to last year due to increased tax outgo. Selling, General & Administrative expenses increased 12% due to product launches and increased marketing costs.