Amgen stock ticks higher after earnings beat

Amgen Inc. AMGN, +1.49% shares advanced in the extended session Thursday after the biotech drug maker topped Wall Street estimates for the quarter. Amgen shares rose 2% after hours, following a 1.5% gain in the regular session to close at $239.22. The company reported first-quarter net income of $1.83 billion, or $3.07 a share, compared with $1.99 billion, or $3.18 a share, in the year-ago period. Adjusted earnings were $4.17 a share, compared with $3.56 a share a year ago. Revenue rose to $6.16 billion from $5.56 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $3.74 a share on revenue of $6 billion. Amgen expects adjusted earnings of $14.85 to $15.60 a share on revenue of $25 billion to $25.6 billion for the year, while analysts forecast $15.38 a share on revenue of $25.25 billion.

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