Amgen Surpasses Q2 Earnings Forecasts with Strong Revenue Growth

Amgen Inc., the world's largest biotech drugmaker, reported strong second-quarter earnings that exceeded Wall Street expectations. The Thousand Oaks, California-based company posted a profit of $2.38 billion and revenue of $10.05 billion in the period.

The results beat analysts' forecasts, with adjusted earnings coming to $6.29 per share, surpassing the average estimate of $5.60 per share from nine analysts surveyed by Zacks Investment Research.

Amgen's shares have climbed 19% since the beginning of the year and have risen 29% in the last 12 months, outperforming the S&P 500 index's 13% gain during that time.