Amgen Shares Soar on Strong Q2 Results

Amgen's shares surged around 4% on Wednesday after the biotech company reported strong second-quarter results that beat Wall Street expectations. The company's revenue reached $10.05 billion, exceeding consensus estimates of about $9.40 billion.

The company's adjusted earnings per share came in at $6.29 for the quarter, ahead of analyst predictions of roughly $5.60 to $5.62. This represents a 15% increase from the same period last year.

Amgen reported significant growth across its portfolio of medicines, with 22 products delivering double-digit sales growth during the quarter. The company also noted that 17 products now generate annualized sales of over $1 billion based on second-quarter performance.