Categories AlphaGraphs, Earnings, Health Care
Merck (MRK) swings to profit in Q2 on higher revenues; earnings beat
Pharmaceutical company Merck & Co. Inc. (NYSE: MRK) reported net profit for the second quarter of 2024, on an adjusted basis, compared to a loss last year. Both sales and earnings exceeded the market’s expectations.
Second-quarter worldwide sales increased 7% year-over-year to $16.11 billion, mainly reflecting continued growth in the sales of vaccines and oncology/cardiovascular products. Wall Street was looking for slower growth.
The company reported a net profit of $5.46 billion or $2.14 per share for the June quarter, compared to a loss of $5.98 billion or $2.35 per share in the prior-year period. On an adjusted basis, net income was $2.28 per share, compared to a loss of $2.06 per share in the second quarter of 2023. The bottom line topped expectations.
“I am proud of our dedicated teams around the world that are working tirelessly to advance our deep pipeline as we continue delivering innovation that solves unmet medical needs,” said Merck’s CEO Robert Davis.
Prior Performance
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
United Airlines likely to continue profitable growth, despite uncertainties
United Airlines (NASDAQ: UAL) has focused its growth strategy on fleet expansion, technology adoption, and service diversification. In the new fiscal year, the company looks to leverage improving demand conditions
After a record FY24, JPMorgan prepares to report Q1 2025 earnings
JPMorgan Chase & Co. (NYSE: JPM) reported record-high revenue and profit for fiscal 2024, while continuing to expand its global footprint by optimizing operational efficiency and improving customer engagement. The
Ulta Beauty (ULTA): Here are the three main priorities in its business plan
Shares of Ulta Beauty, Inc. (NASDAQ: ULTA) were down 1% on Friday. The stock has dropped 15% over the past three months. The retailer is steering through a dynamic consumer
