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Amgen Stock Dips Despite Second-Quarter Beat, Guidance Reiterated

Amgen stock dipped late Tuesday after the biotech company reported adjusted income of $4.38 per share on $6.53 billion in second-quarter sales.




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On average, analysts polled by FactSet expected Amgen (AMGN) to earn $4.09 per share on $6.46 billion in sales.

In the year-earlier period, Amgen reported profit of $4.20 per share and $6.21 billion in sales.

For the year, the giant biotech company now predicts adjusted earnings of $16-$17 per share and $25.8 billion to $26.6 billion in sales. Analysts projected $16.36 earnings per share and $26 billion in sales.

In after-hours trading on the stock market today, Amgen stock fell 1.3% near 241.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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