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8/3, 10:11 PM (Source: TeleTrader)
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Amgen Q2 revenue up 5% YoY, beats estimates

Amgen biopharmaceutical company reported on Tuesday its financial results for the second fiscal quarter of 2021 beating analyst estimates as the revenue grew by 5% to $6.5 billion compared to the same period of last year.

GAAP earnings per share were down 73% from the comparable period of 2020 and amounted to $0.81 per share, while the operating income decreased by 64% to $0.8 billion. Product sales added 3% globally, driven by double-digit volume growth on several items.

"We achieved solid, volume-driven growth in the quarter as our business recovered from the effects of the pandemic. As we look to the balance of the year, we are excited to be launching LUMAKRAS™, a first-in-class lung cancer treatment, and advancing a robust pipeline of potential new medicines to meet the demands of patients around the world," said Robert Bradway, Amgen CEO.

Following the report, Amgen stocks dropped 0.44% in the after-hours trading selling for $243.

Breaking the News / LH