Amgen stock rises after earnings beat

Amgen Inc.
shares rose in the extended session Wednesday after the biotech drug maker topped Wall Street estimates for the quarter. Amgen shares advanced 1.2% after hours, following a 3.2% decline in the regular session to close at $216.38. The company reported third-quarter net income of $2.02 billion, or $3.43 a share, compared with $1.97 billion, or $3.27 a share, in the year-ago period. Adjusted earnings were $4.37 a share. compared with $3.66 a share in the year-ago period. Revenue rose to $6.42 billion from $5.74 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $3.80 a share on revenue of $6.38 billion. Amgen expects adjusted 2020 earnings of $15.80 to $16.15 a share on revenue of $25.1 billion to $25.5 billion, while analysts had forecast $15.78 a share on revenue of $25.38 billion.

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