Amgen Q2 Profit Down, But Tops View - Quick Facts

(RTTNews) - Amgen Inc. (AMGN) Tuesday reported second-quarter net income of $1.26 billion or $1.65 per share, compared to $1.27 billion or $1.61 per share last year.

Adjusted net income for the quarter rose to $1.44 billion or $1.89 per share from $1.43 billion or $1.83 per share last year. Analysts polled by Thomson Reuters expected earnings of $1.74 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter increased 5 percent to $4.68 billion from $4.48 billion last year. Analysts estimated revenues of $4.49 billion for the quarter.

Looking forward to the full year 2013, the company now expects adjusted earnings of $7.30 to $7.45 per share and revenues to be at the upper end of $17.8 billion to $18.2 billion. Analysts currently estimate earnings of $7.29 per share on revenues of $17.96 billion for the quarter.

Previously, the company expected adjusted earnings to be above the midpoint of $7.05 to $7.35 per share and revenues of $17.8 billion to $18.2 billion.