Amgen Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Amgen Inc. (AMGN) announced a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $1.48 billion, or $2.68 per share. This compares with $1.65 billion, or $2.83 per share, in last year's first quarter.

Excluding items, Amgen Inc. reported adjusted earnings of $2.34 billion or $4.25 per share for the period.

Analysts on average had expected the company to earn $4.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.8% to $6.24 billion from $5.90 billion last year.

Amgen Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.48 Bln. vs. $1.65 Bln. last year. -EPS (Q1): $2.68 vs. $2.83 last year. -Analyst Estimates: $4.10 -Revenue (Q1): $6.24 Bln vs. $5.90 Bln last year.

-Guidance: Full year EPS guidance: Adj:$17.00 to $18.00 Full year revenue guidance: $25.4 - $26.5 Bln