Merck misses estimates with $12.1B revenue in Q1

Thursday, 29. April 2021 12:33

American pharmaceutical company Merck & Co., Inc. unveiled on Thursday its revenue in the first quarter of 2021 amounted to $12.08 billion after a 1% decline compared to the same time span a year ago. The figure came in below expectations.

Merck's earnings per share during the same period landed at $1.25, down by one percentage point compared to the opening quarter of 2020, while its net income came in at $3.2 billion. The company underlined that it still expects the sales figure for the entire year to overshoot the previous one by some 8-12%.

"While our results this quarter were impacted by the pandemic, the underlying demand for our innovative products remains strong and we remain confident in our future growth prospects," Merck CEO Kenneth Frazier commented.

The company's shares lost 3.36% in the premarket trade after the release of the report.

Related Links: Merck KGaA
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Breaking the News / BU