Amgen shares fall on biosimilar concerns despite third-quarter earnings beat
AMGN AMGEN Inc
$460.42 +0.03%
View chart & analysis → - 1Amgen reported third-quarter adjusted earnings per share (EPS) of $6.45, exceeding the analyst consensus estimate of $5.76.
- 2The company achieved $10.4 billion in revenue, representing an 8% increase compared to the previous year.
- 3Amgen shares fell 1.5% in Tuesday after-hours trading.
So what's the key point?
Amgen reported higher profits and increased revenue than experts expected. However, the stock price fell 1.5% due to concerns regarding biosimilars.
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