THOUSAND OAKS, Calif. (AP) _ Amgen Inc. (AMGN) on Tuesday reported second-quarter earnings of $464 million.

The Thousand Oaks, California-based company said it had net income of 81 cents per share. Earnings, adjusted for non-recurring costs, were $4.38 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $4.13 per share.

The world's largest biotech drugmaker posted revenue of $6.53 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $6.43 billion.

Amgen expects full-year earnings in the range of $16 to $17 per share, with revenue in the range of $25.8 billion to $26.6 billion.

Amgen shares have risen 6% since the beginning of the year, while the S&P's 500 index has climbed 18%. In the final minutes of trading on Tuesday, shares hit $243.70, a drop of 1.5% 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

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News