Amgen Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Amgen Inc. (AMGN) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $2.84 billion, or $5.28 per share. This compares with $1.48 billion, or $2.68 per share, in last year's first quarter.

Excluding items, Amgen Inc. reported adjusted earnings of $2.14 billion or $3.98 per share for the period.

Analysts on average had expected the company to earn $3.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.1% to $6.11 billion from $6.24 billion last year.

Amgen Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $2.84 Bln. vs. $1.48 Bln. last year. -EPS (Q1): $5.28 vs. $2.68 last year. -Analyst Estimate: $3.85 -Revenue (Q1): $6.11 Bln vs. $6.24 Bln last year.

-Guidance: Full year EPS guidance: $17.60 - $18.70 Full year revenue guidance: $26.2 - $27.3 Bln