THOUSAND OAKS, Calif. (AP) _ Amgen Inc. (AMGN) on Tuesday reported first-quarter earnings of $1.99 billion.
On a per-share basis, the Thousand Oaks, California-based company said it had net income of $3.18. Earnings, adjusted for non-recurring costs, came to $3.56 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $3.45 per share.
The world's largest biotech drugmaker posted revenue of $5.56 billion in the period, which matched Street forecasts.
Amgen expects full-year earnings in the range of $13.25 to $14.30 per share, with revenue in the range of $22 billion to $22.9 billion.
Amgen shares have declined 8% since the beginning of the year, while the Standard & Poor's 500 index has climbed 17%. In the final minutes of trading on Tuesday, shares hit $179.18, a rise of almost 3% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMGN at https://www.zacks.com/ap/AMGN
Automated Insights, source Associated Press News