Amgen (AMGN) Tops Q2 EPS by 16c, Lifts FY Guidance

Amgen (NASDAQ: AMGN) reported Q2 EPS of $3.27, $0.16 better than the analyst estimate of $3.11. Revenue for the quarter came in at $5.81 billion versus the consensus estimate of $5.67 billion.

GUIDANCE:

Amgen sees FY2017 EPS of $12.15-$12.65, versus the consensus of $12.49. Amgen sees FY2017 revenue of $22.5-23 billion, versus the consensus of $22.7 billion.

• Total revenues in the range of $22.5 billion to $23.0 billion.
• Previously, the Company expected total revenues in the range of $22.3 billion to $23.1 billion.
• On a GAAP basis, EPS in the range of $10.79 to $11.37 and a tax rate in the range of 16 percent to 18 percent.
• Previously, the Company expected GAAP EPS in the range of $10.64 to $11.32. Tax rate guidance is unchanged.
• On a non-GAAP basis, EPS in the range of $12.15 to $12.65 and a tax rate in the range of 18.5 percent to 19.5 percent.
• Previously, the Company expected non-GAAP EPS in the range of $12.00 to $12.60. Tax rate guidance is unchanged.
• Capital expenditures to be approximately $700 million.

For earnings history and earnings-related data on Amgen (AMGN) click here.

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