Amgen Profit Crushes Estimates; Reaffirms FY15 Guidance

(RTTNews) - Biotechnology giant Amgen Inc (AMGN) on Tuesday reported fourth-quarter net earnings of $1.29 billion or $1.68 per share compared with $1.02 billion or $1.33 per share last year.

Excluding items, adjusted earnings for the quarter were $2.16 per share compared with $1.82 per share a year ago.

Revenues for the quarter were up 6% at $5.33 billion compared with $5.01 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $2.05 per share on revenues of $5.20 billion for the quarter. Analysts' estimates typically exclude special items.

The company benefited from strong demand for drugs such as Enbrel, Prolia, Xgeva, and Neulasta.

For the full year 2015, the company still expects adjusted earnings of $9.05 to $9.40 per share on revenues of $20.8 billion to $21.3 billion. Analysts expect earnings of $9.29 per share on revenues of $20.87 billion.