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Merck posts strong first-quarter profit, but revenue light

FILE - In this Dec. 18, 2014, file photo, a person walks through a Merck company building, in Kenilworth, N.J. Merck & Co. reports earnings Tuesday, M...

FILE - In this Dec. 18, 2014, file photo, a person walks through a Merck company building, in Kenilworth, N.J. Merck & Co. reports earnings Tuesday, M...

KENILWORTH, N.J. (AP) — Merck is reporting strong profits for the first quarter, but revenue is just shy of what many had expected.

The pharmaceutical company said Tuesday it had net income of $736 million, or 27 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.05 per share, which is 6 cents better than Wall Street analysts had projected, according to a poll by Zacks Investment Research.

The Kenilworth, New Jersey, company had revenue of $10.04 billion, which missed projections for $10.12 billion.

Merck & Co. expects full-year earnings between $4.16 and $4.28 per share, with revenue between $41.8 billion and $43 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRK at https://www.zacks.com/ap/MRK


Updated : 2021-01-24 10:56 GMT+08:00