AMGN Q4 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025

Earnings

Amgen closed out 2025 on a high note, delivering a fourth-quarter earnings beat that reflected both the breadth of its commercial portfolio and the strength of its newer growth franchises. Non-GAAP EPS of $5.29 cleared the $4.72 consensus by 12.08%, … Read more Amgen closed out 2025 on a high note, delivering a fourth-quarter earnings beat that reflected both the breadth of its commercial portfolio and the strength of its newer growth franchises. Non-GAAP EPS of $5.29 cleared the $4.72 consensus by 12.08%, while revenue of $9.87 billion topped analyst expectations by 4.25% and grew 8.6% year over year, fueled by volume-driven product sales gains even as net selling prices slipped 4%. The standout performers were Repatha, up 44%, TEZSPIRE, up 60%, and UPLIZNA, which surged 131%, with IMDELLTRA, Amgen's BiTE therapy for small cell lung cancer, generating $234 million in quarterly sales with 31% sequential growth. Increased R&D investment, particularly behind the obesity candidate MariTide, held non-GAAP EPS essentially flat for the quarter despite the revenue tailwind. Institutional investors have taken notice, with ownership collectively representing 76.5% of shares outstanding. Looking to 2026, Amgen guided full-year revenues of $37 billion to $38.4 billion and non-GAAP EPS of $21.60 to $23.00, projecting continued volume growth even as Enbrel and Prolia face mounting headwinds from pricing pressure and biosimilar competition.