Merck & Co., Inc. (NYSE: MRK) reported a modest increase in adjusted earnings for the third quarter of 2022 when the pharmaceutical company’s net sales grew by 14%.
Worldwide sales rose 14% year-over-year to $14.9 billion during the quarter. Pharmaceutical sales grew 13%, which was partially offset by a 3% sales drop in the animal health segment.
Third-quarter earnings, on an adjusted basis, moved up to $1.85 per share from $1.78 per share in the same quarter of 2021. Unadjusted net income was $3.25 billion or $1.28 per share in the most recent quarter, compared to $4.57 billion or $1.80 per share in the corresponding period of the previous year.
Check this space to read management/analysts’ comments on Merck’s Q3 2022 earnings report
“Our third quarter results demonstrate exceptional revenue and underlying earnings growth and sustained performance across our key growth drivers. Inspired by our purpose of saving and improving lives around the world, I am confident we are well-positioned to continue to deliver strong operational performance,” said Robert Davis, chief executive officer of Merck.
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