The US biotechnology company Amgen saw a sharp rise in net profit in the second quarter and reported a 9.5 per cent increase in revenue; moreover, its adjusted profit and revenue exceeded market expectations. The company has revised its forecast for key financial indicators for the current year upwards.
According to the company’s press release, net profit for April–June stood at $2.38 billion, or $4.37 per share, compared with $1.43 billion, or $2.65 per share, for the same period last year.
Excluding one-off items, earnings per share stood at $6.29.
Revenue rose to $10.05 billion from $9.18 billion a year earlier.
Analysts had, on average, forecast adjusted earnings of $5.62 per share on revenue of $9.43 billion.
For the full year 2026, Amgen now expects revenue to be in the range of $38.2–39.4 billion (previously expected to be $37.1–38.5 billion), and adjusted earnings of 22.3–23.5 per share (previously estimated at 21.7–23.1 per share).
Analysts estimate the company’s annual revenue at $37.74 billion and earnings at $22.36 per share.
Amgen also announced that the dividend for the third quarter will be $2.52 per share. The payment will be made on 11 September, with the record date set for 21 August.
Amgen’s share price rose by 0.2% in after-hours trading on Tuesday following the release of the results. Since the start of the year, the company’s market capitalisation has grown by 19.2% to $210.5 billion.
Amgen develops and manufactures innovative medicines for cancer, kidney disease, rheumatoid arthritis and other serious conditions. The company operates in around 100 countries.