KENILWORTH, N.J. (AP) – Merck & Co. (MRK) on Thursday reported first-quarter earnings of $1.13 billion.
The Kenilworth, New Jersey-based company said it had profit of 40 cents per share. Earnings, adjusted for one-time gains and costs, were 89 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The pharmaceutical company posted revenue of $9.31 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $9.49 billion.
Merck expects full-year earnings in the range of $3.65 to $3.77 per share.
Merck shares have increased nearly 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has declined almost 10 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