U.S. Markets open in 3 hrs 57 mins

Amgen: 4Q Earnings Snapshot

THOUSAND OAKS, Calif. (AP) _ Amgen Inc. (AMGN) on Thursday reported fourth-quarter earnings of $1.7 billion.

The Thousand Oaks, California-based company said it had net income of $2.85 per share. Earnings, adjusted for non-recurring costs, came to $3.64 per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.44 per share.

The world's largest biotech drugmaker posted revenue of $6.2 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $6.01 billion.

Amgen expects full-year earnings in the range of $14.85 to $15.60 per share, with revenue in the range of $25 billion to $25.6 billion.

Amgen shares have decreased 6% since the beginning of the year, while the Standard & Poor's 500 index has increased almost 2%. In the final minutes of trading on Thursday, shares hit $226.07, a climb of 22% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMGN at https://www.zacks.com/ap/AMGN