Merck (MRK) Tops Q1 EPS by 6c; Lowers FY13 EPS Outlook; Boosts Buyback

May 1, 2013 7:03 AM EDT Send to a Friend
Merck & Co., Inc. (NYSE: MRK) reported Q1 EPS of $0.85, $0.06 better than the analyst estimate of $0.79. Revenue for the quarter came in at $10.7 million versus the consensus estimate of $11.09 million.

Sees FY2013 EPS of $3.45 - $3.55, versus the consensus of $3.63 and prior expectations of $3.60 to $3.70.

Merck also announced that it authorized additional purchases of up to $15 billion of Merck’s common stock for its treasury. The company expects to repurchase approximately $7.5 billion of common stock over the next 12 months, financed through a combination of debt issuance and operating cash flows, with the remainder to be repurchased over time with no time limit. Purchases may be made in open-market transactions, block transactions on or off an exchange, or in privately negotiated transactions.

For earnings history and earnings-related data on Merck & Co., Inc. (MRK) click here.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Earnings, Guidance, Hot Buybacks, Hot Earnings, Hot Guidance, Stock Buybacks

Related Entities

Earnings

Add Your Comment