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2/2, 12:31 PM (Source: TeleTrader)
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Merck-0.22%

104.20
Chart for: Merck & Co Inc

Merck posts Q4 sales up 2% to $13.8B

Merck & Co. Inc. reported on Thursday that its sales for the fourth quarter of fiscal 2022 came in at $13.8 billion, slightly increasing by 2% compared to the corresponding timeframe in 2021.

Still, the company's GAAP earnings per share plummeted 22% year-over-year to arrive at $1.18, while its net income in the final quarter of 2022 also recorded a drop, reaching $3 billion, a decrease of 21% compared to the same period in the year prior. Meanwhile, the full-year results showed a 22% rise in sales, amounting to $59.2 billion, while GAAP EPS clocked in $5.71, jumping 17% compared to 2021.

Chairman and CEO Robert M. Davis remarked that the pharmaceutical giant would "continue to build a sustainable engine that will drive innovation and generate long-term value for patients and shareholders well into the next decade." Following the release of the report, Merck's shares traded 2.79% lower in the premarket session.

Baha Breaking News (BBN) / KB