Amgen Beats Expectations with 9% Sales Growth

Amgen's second-quarter sales increased by 9% to $10.1 billion, surpassing analysts' expectations of $9.42 billion.

The biotech company reported a 4% rise in adjusted earnings per share to $6.29, exceeding the predicted $5.62, according to LSEG data.

Amgen's net earnings per share jumped by 65% to $4.37. The California-based firm raised its full-year outlook for adjusted earnings to $22.30 to $23.50 per share on revenue of $38.2 billion to $39.4 billion.

The growth drivers, which account for nearly 70% of second-quarter product sales, grew by 26% year over year. Repatha and Evenity drove much of this growth, with quarterly sales rising 37% to $953 million and 38% to $714 million, respectively.