THOUSAND OAKS (dpa-AFX) - Amgen Inc. (AMGN) announced that it swung to profit in its first quarter of 2025 from a loss last year, helped by higher revenues and an unrealized gain on its BeiGene, Ltd. equity investment. The company's earnings came in above the Street expectations. Amgen also provided outlook for the year ahead.
The American biopharmaceutical company posted net income of $1.73 billion or $3.20 per share in the first quarter, compared to net loss of $113 million or $0.21 per share in the same period last year.
During the three-month period, the company benefited from an unrealized gain on its BeiGene, Ltd. equity investment, compared to an unrealized loss during the year-ago period. The gain was partially offset by an Otezla intangible asset impairment charge of $800 million recorded during the first quarter of 2025.
Adjusted income for the period came in at $2.65 billion, or $4.90 per share, compared to $2.14 billion or $3.96 per share in the same quarter a year ago. Analysts, on average, expected the company to post earnings of $4.26 per share in the quarter.
First-quarter revenues climbed 9 percent to $8.15 billion from $7.45 billion in the prior-year period, aided by a 11 percent growth in product sales.
Looking ahead, for fiscal 2025, the company expects earnings per share in the range of $12.21 to $13.46 and adjusted earnings per share in the range of $20.00 to $21.20. Total revenues are expected between $34.3 billion and $35.7 billion.
Analysts expect the company to post earnings per share of $20.63 on revenues of $35.12 billion in fiscal 2025.
Amgen said that its share repurchases during the year will not exceed $500 million.
On the NYSE, the stock was up 0.78 percent on Thursday's after-hours. It ended Thursday's regular trading at $283.78, down 2.45 percent.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
