KENILWORTH, N.J. (AP) _ Merck & Co. (MRK) on Thursday reported second-quarter net income of $1.55 billion.
On a per-share basis, the Kenilworth, New Jersey-based company said it had profit of 61 cents. Earnings, adjusted for one-time gains and costs, were $1.31 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The pharmaceutical company posted revenue of $11.4 billion in the period.
Merck expects full-year earnings in the range of $5.47 to $5.57 per share, with revenue in the range of $46.4 billion to $47.4 billion.
Merck shares have fallen 4% since the beginning of the year, while the S&P's 500 index has increased 17%. The stock has fallen roughly 2% 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 MRK at https://www.zacks.com/ap/MRK
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News