KENILWORTH, N.J. (AP) – Merck & Co. (MRK) on Friday reported second-quarter earnings of $1.21 billion.
The Kenilworth, New Jersey-based company said it had profit of 43 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, came to 93 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The pharmaceutical company posted revenue of $9.84 billion in the period, which matched Street forecasts.
Merck expects full-year earnings in the range of $3.67 to $3.77 per share, with revenue in the range of $39.1 billion to $40.1 billion.
Merck shares have risen 11 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 6 percent. The stock has risen nearly 2 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