Amgen Shares Soar on Strong Earnings Beat
Amgen, a biotech company listed on NASDAQ as AMGN, saw its shares jump by 3.1% in the afternoon session after releasing strong second-quarter 2026 financial results.
The results beat expectations and led to an increase in the company's full-year guidance. Amgen reported total revenue of $10.05 billion for the quarter, a year-over-year increase of 9.5%, exceeding Wall Street estimates by 6.9%.
The company's adjusted earnings per share came in at $6.29, surpassing consensus forecasts by 12%. Additionally, Amgen's free cash flow margin improved significantly to 34.7% from 20.8% in the same quarter last year.
Following this strong performance, Amgen raised its full-year revenue guidance to a midpoint of $38.8 billion and adjusted earnings per share outlook to a midpoint of $22.90.