Amgen’s profit slides, revenue jumps in Q1

Amgen’s quarterly profit slid 1% but its revenue jumped 22%, according to its latest earnings report released Thursday afternoon.

For the quarter, Amgen recorded $7.4 billion in revenue, thanks largely to 22% growth in product sales and 25% growth in volume. Amgen’s non-GAAP earnings per share (EPS) fell 1% of $3.96 but still topped Wall Street estimates of $3.89.