Merck & Co's EPS climbs 13% to $1.26 in Q1

Tuesday, 28. April 2020 12:47

Merck & Co. Inc. announced on Tuesday that its GAAP earnings per share (EPS) amounted to $1.26 in the first quarter of the fiscal year, marking an increase of 13% on an annual basis. The United States-based pharmaceutical firm said its sales jumped 11% annually over the same period to reach $12.1 billion, while GAAP net income landed at $3.22 billion, soaring 10% compared to the same trimester last year.

Meanwhile, the company decided to lower its full-year revenue expectations to between $46.1 Billion and $48.1 Billion due to the coronavirus impact.

"In this challenging and unprecedented time, the quality of our first-quarter performance reflects strong demand for our portfolio of innovative products, continued commercial and clinical execution and the dedication and resilience of our employees around the world. The fundamentals of our business remain strong," the New Jersey-headquartered company's CEO and chairman Kenneth Frazier said in a statement.

Merck's shares were flat in premarket trading after the announcement.

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Breaking the News / GA