7/27/2018, 12:50 PM (Source: TeleTrader)
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Merck reports EPS at $0.63 in Q2, down 12.7% YoY

American pharmaceutical firm Merck&Company Inc. reported on Friday its GAAP earnings per share (EPS) for the second quarter of the fiscal year 2018 stood at $0.61, declining 12.7% compared to the same period a year ago. The company said its revenue amounted to $10.5 billion for the period, rising 5% year on year.

Merck's net income for the second three months of this year was $1.7 billion, falling 14.7% compared to the same quarter in 2017. The company said the decline in net income was mostly due to the acquisition and restructuring costs. The pharma giant noted that it continues to expand its oncology program.

"Strong commercial execution globally for KEYTRUDA, GARDASIL, BRIDION and other products led the company to deliver growth in the second quarter," said Merck's CEO Kenneth C, Fraizer. He added: "We continue to solidify our leadership in immuno-oncology and, along with our other key pillars of growth including Animal Health, we are confident in the strength of our business."

Following the release of corporate results, Merck shares rose 1.39% in the premarket trade on Wall Street.

Breaking the News / VK