11/2/2021, 9:04 PM (Source: TeleTrader)
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Amgen posts Q3 revenue at $6.70B, up 4% YoY

Amgen Inc. reported on Tuesday its financial results for the third fiscal quarter of 2021 with revenue increasing 4% year-on-year to reach $6.70 billion, above market estimates.

GAAP earnings per share were down 3% from the comparable period of 2020 and amounted to $3.31, while the operating income decreased by 3% to $2.4 billion. Product sales grew 4% globally, driven by double-digit volume growth on several items.

"Our newest product, LUMAKRAS, a first-in-class lung cancer treatment, is off to a strong start and our robust pipeline of potential new medicines across all stages of development sets us up well to drive growth over the long term," said Robert Bradway, Amgen CEO.

Following the release of the report, Amgen stocks dropped 0.58% in after-hours trading.

Baha Breaking the News (BBN) / IB