Merck's revenue drops 1% but still beats analysts' estimates for 2nd-qtr

29 July 2014

Global revenue at pharma giant Merck & Co (NYSE: MRK) slipped 1% but the company has still exceeded analysts’ estimates for the second quarter of 2014.

Over the period, revenue stood at $10.9 billion, which compares favorably with analysts’ expectations of $10.6 billion, with Merck attributing the slight decline to patent expirations. Merck’s shares rose nearly 1%, to $58.50 in pre-market trading.

The company reported generally accepted accounting principles (GAAP) net income of $2 billion, with earnings per share standing at $0.68 for GAAP and $0.85 for non-GAAP. This quarter’s figures have improved on analysts’ expectations: those polled by Thomson Reuters were expecting $0.81 per share while Merck earned $0.85.

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