Merck & Co posts strong 3rd-qtr 2011results as profit leaps 9.9% and sales rise 8%
US drugs giant Merck & Co (NYSE: MRK) post third-quarter 2011 financial results late Friday, showing that, on a non-GAPP bases, net profit was $2.91 billion euros, or earnings per share of $0.94 a share, a rise of 9.9%, beating the Thomson Reuters consensus estimates of $0.91. On a GAPP basis net income rocketed nearly five-fold from $342 million, or $0.11 a share one year ago, to $1.69 billion, or $0.55 per share. Revenues were up 8% to $12.02 billion, also exceeding analysts’ forecasts of $11.6 billion.
The company has raised the lower end of 2011 non-GAAP EPS range of $3.72 to $3.76. It also revized its GAAP EPS range to $2.03 to $2.2 and expects full-year 2011 revenue growth in the mid single-digit range. Merck’s shares gained 2.3% to $35.11 in late trading on Friday.
Pharmaceutical sales performance
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