Amgen Surpasses Q2 Estimates on Strong Drug Sales and Raises Revenue Guidance

Amgen Inc., the biotechnology company behind several key growth drivers, reported second-quarter results that exceeded analyst expectations.

The company's adjusted earnings per share came in at $6.29, beating the consensus estimate of $5.60 by $0.69.

Revenue reached $10.1 billion, a 10% increase year-over-year from $9.2 billion in the second quarter of last year.

The six key growth drivers, which generated nearly 70% of product sales, saw a significant 26% year-over-year increase.

Product sales increased by 9% to $9.5 billion, driven by volume growth across the portfolio.

Repatha, EVENITY, TEZSPIRE, and UPLIZNA all saw notable increases in sales, ranging from 37% to 90%, while Prolia's sales declined by 32% due to biosimilar competition.

Amgen has raised its revenue guidance for fiscal year 2026 to a range of $38.2 billion to $39.4 billion, with a midpoint of $38.8 billion above the analyst consensus of $37.7 billion.