Amgen reported an increase in first quarter earnings, driven by broad-based growth in product sales. Both earnings and sales topped street estimates.
Earnings rose 16% year-over-year to $3.25 per share during the quarter. Besides higher product sales, the growth was also driven by a decline in the tax rate. On an adjusted basis, profit advanced 10% to $3.47 per share.
At $5.6 billion, revenues were higher by 2% compared to the first quarter of 2017. The topline benefited from a double-digit increase in sales across all products.
https://news.alphastreet.com/strong...ns-q1-earnings-above-street-view-shares-gain/
Earnings rose 16% year-over-year to $3.25 per share during the quarter. Besides higher product sales, the growth was also driven by a decline in the tax rate. On an adjusted basis, profit advanced 10% to $3.47 per share.
At $5.6 billion, revenues were higher by 2% compared to the first quarter of 2017. The topline benefited from a double-digit increase in sales across all products.
https://news.alphastreet.com/strong...ns-q1-earnings-above-street-view-shares-gain/