Amgen Q1 Results Top Estimates; Boosts FY15 EPS Outlook

(RTTNews) - Amgen Inc. (AMGN) reported net income for the first quarter of $1.6 billion or $2.11 per share, compared to $1.1 billion or $1.40 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $1.9 billion or $2.48 per share, compared to $1.4 billion or $1.87 per share in the prior year quarter.

Total revenues for the first quarter rose 11% to $5.03 billion from $4.52 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $2.10 per share on revenue of $4.91 billion for the first quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the company now expects total revenues in the range of $20.9 billion to $21.3 billion and adjusted EPS in the range of $9.35 to $9.65. Previously, the company expected total revenues in the range of $20.8 billion to $21.3 billion and adjusted EPS in the range of $9.05 to $9.40.

Analysts currently expect the company to earn $9.32 per share on revenue of $20.98 billion for the full year 2015.