Merck & Co. Inc. (NYSE: MRK | MRK Price Prediction) released its second-quarter financial results before the markets opened on Tuesday. The pharma giant said that it had $1.30 in earnings per share (EPS) and $11.8 billion in revenue, which compared with consensus estimates of $1.16 in EPS and $10.96 billion in revenue. The same period of last year reportedly had $1.06 in EPS and $10.46 billion in revenue.
During the latest quarter, worldwide sales increased 12% year over year. Also, excluding the negative impact of foreign exchange, worldwide sales grew 15%.
In terms of its segments, Merck reported as follows:
- Pharmaceutical increased 13% year over year to $10.46 billion.
- Animal Health increased 3% to $1.12 billion.
- Other revenues increased 88% to $176 million.
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One of the highlights from the Pharmaceutical segment was Keytruda sales, which grew 58% to $2.6 billion in the quarter. Also, Human Health Vaccines sales grew 33% to $2.0 billion in this time as well.
Looking ahead to the 2019 full year, the company expects to see EPS in the range of $4.84 to $4.94 and revenues in between $45.2 billion and $46.2 billion. Consensus estimates call for $4.75 in EPS and $44.74 billion in revenue for the year.
Kenneth C. Frazier, board chair and chief executive, commented:
Our science-led strategy and execution across our key growth pillars have driven another quarter of accelerating revenue growth with strength across our global portfolio. We remain confident that our innovative products and significant pipeline opportunities will continue to deliver strong results and provide sustainable value to patients and shareholders.
Shares of Merck traded up 2.2% Monday morning to $84.29, in a 52-week range of $64.87 to $87.07.
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