Amgen Stock Sinks As Market Eyes MariTide's Next Move

Amgen Inc. (NASDAQ:AMGN) shares are trading lower on Wednesday, despite the company reporting second-quarter results that surpassed analyst expectations after markets closed on Tuesday.

The US drug maker reported adjusted earnings of $6.02 per share, up 21% year over year, beating the consensus of $5.24.

Amgen reported quarterly sales of $9.18 billion, up 9%, beating the Wall Street estimate of $8.87 billion.

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Product sales grew 9%, driven by 13% volume growth, partially offset by 3% lower net selling price.

Fifteen products delivered at least double-digit sales growth in the second quarter.

Outlook

Following the strong quarterly performance, Amgen raised fiscal year 2025 adjusted earnings guidance from $20.00-$21.20 per share to $20.20-$21.30 versus the consensus of $20.89.

The company raised sales outlook from $34.30 billion-$35.70 billion to $35 billion-$36 billion versus the consensus of $35.29 billion.

MariTide in Focus

Despite the positive financial results, ...