4/27/2023, 12:31 PM (Source: TeleTrader)
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Chart for: Merck & Co Inc

Merck's Q1 sales land at $14.5B, down 9%

Merck & Co. Inc. announced on Thursday that its sales in the first trimester of its fiscal 2023 amounted to $14.5 billion, tumbling 9% year over year.

GAAP earnings per share and GAAP net income nosedived 35% in the first quarter compared to the same timeframe a year prior, landing at $1.11 and $2.8 billion respectively. According to Merck's full-year 2023 guidance, the company is expecting its sales to reach between $57.7 billion and $58.9 billion, while GAAP earnings per share are anticipated to be between $5.85 and $5.97.

"Our first-quarter results are a reflection of the focused execution of our science-led strategy, strong performance across our key growth drivers, continued momentum commercially and operationally," CEO Robert Davis commented.

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