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Merck tops Street 2Q forecasts

FILE - In this Thursday, Dec.18, 2014, file photograph, scientist Christopher Kistler checks on experiments in AMBR250 bio-reactors in a laboratory at the Merck company facilities in Kenilworth, N.J. Merck & Company, Inc. reports earnings, Friday, July 28, 2017. (AP Photo/Mel Evans, File) FILE - In this Thursday, Dec.18, 2014, file photograph, scientist Christopher Kistler checks on experiments in AMBR250 bio-reactors in a laboratory at the Merck company facilities in Kenilworth, N.J. Merck & Company, Inc. reports earnings, Friday, July 28, 2017. (AP Photo/Mel Evans, File)

By Associated Press July 28, 2017 1 min read

KENILWORTH, N.J. (AP) – Merck is reporting second-quarter net income of $1.95 billion.

On a per-share basis, the Kenilworth, New Jersey, company said it had profit of 71 cents. Earnings, adjusted for one-time gains and costs, were $1.01 per share, far exceeding Wall Street expectations of 87 cents, according to a survey by Zacks Investment Research.

The pharmaceutical company posted revenue of $9.93 billion in the period, also edging out forecasts.

Merck expects full-year earnings in the range of $3.76 to $3.88 per share, with revenue in the range of $39.4 billion to $40.4 billion.

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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 https://www.zacks.com/ap/MRK

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Keywords: Merck, Earnings Report, Priority Earnings