Amgen Reports Q2 Beat, Provides Guidance By Investing.com

Amgen Reports Q2 Beat, Provides Guidance

Stock Markets Aug 04, 2022 04:29PM ET

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Amgen Reports Q2 Beat, Provides Guidance

By Investing.com Staff

Amgen (NASDAQ:AMGN) reported its Q2 results, with EPS of $4.65 coming in better than the consensus estimate of $4.39. Revenue grew 1% year-over-year to $6.59 billion, compared to the consensus estimate of $6.53 billion.

Total product sales grew 3% year-over-year. Unit volumes were up 10%, partially offset by a 6% lower net selling price and a 2% negative impact from foreign exchange.

"We are focused on delivering our long-term objectives by serving an ever-increasing number of patients around the world with our medicines," said Robert A. Bradway, chairman and chief executive officer. "We are advancing our pipeline and look forward to important readouts over the next few months."

The company provided its full 2022-year guidance, expecting EPS in the range of $17.00-$18.00, compared to the consensus of $17.40, and revenue in the range of $25.5-26.4 billion, compared to the consensus of $26.23 billion.

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