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.
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