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Amgen Beats on Revenue and Profit Expectations

By Liz Moyer

Investing.com -- Amgen (NASDAQ:AMGN) reported third quarter earnings that beat analysts' forecasts and revenue that topped expectations.

The biotech company reported earnings per share of $4.70 on revenue of $6.7 billion. Analysts anticipated EPS of $4.45 on revenue of $6.58 billion.

Amgen shares rose 1% in after-hours trading. They are up 18% from the beginning of the year, but down 3.27% from a 52-week high of $274.88 set on Nov. 2.

Revenue for the quarter was up 1% on growth from its treatments for cancer, rheumatology and heart products helped blunt the effects of lower prices and foreign exchange challenges.

For the full year, Amgen is forecasting a narrower range for adjusted EPS of $17.25 to $17.85 and revenue in a range of $26 billion to $26.3 billion. It earlier forecast an EPS range of $17 to $18 on revenue of $25.5 billion to $26.4 billion.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.