KENILWORTH, N.J. (AP) – Merck & Co. (MRK) on Tuesday reported third-quarter profit of $1.83 billion.
The Kenilworth, New Jersey-based company said it had profit of 64 cents per share. Earnings, adjusted for pretax expenses, were 96 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The pharmaceutical company posted revenue of $10.07 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $10.09 billion.
Merck expects full-year earnings in the range of $3.55 to $3.60 per share.
Merck shares have dropped roughly 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 1 percent. The stock has dropped 8 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRK at http://www.zacks.com/ap/MRK
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Keywords: Merck, Earnings Report, Priority Earnings