Revenues Drive Amgen Beat In Q3; Giving More Cash Back
Once again, Amgen Inc. beat analyst expectations for the quarter. The big biotech reported third quarter earnings of $1.40 per share, well ahead of the $1.29 per share expected by Wall Street.
GAAP EPS was just 50 cents per share, however, thanks largely to a $780 million reserve Amgen established to settle various investigations into the sales and marketing of its erythropoiesis-stimulating agents (ESA). Chief Financial Officer Jonathan Peacock said the settlements should be finalized "over the next three to four months."
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