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Amgen (AMGN) Reports Q2 Earnings: What Key Metrics Have to Say
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Amgen (AMGN - Free Report) reported $6.99 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 5.9%. EPS of $5.00 for the same period compares to $4.65 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $6.63 billion, representing a surprise of +5.41%. The company delivered an EPS surprise of +12.61%, with the consensus EPS estimate being $4.44.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Amgen performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Product Sales- EPOGEN - US: $61 million versus the seven-analyst average estimate of $65.09 million. The reported number represents a year-over-year change of -55.2%.
Product Sales- Aranesp - ROW: $242 million versus $237.22 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.6% change.
Product Sales- ENBREL - US: $1.06 billion compared to the $855.30 million average estimate based on four analysts. The reported number represents a change of +1.8% year over year.
Product Sales- ENBREL - ROW: $13 million versus the four-analyst average estimate of $14.73 million. The reported number represents a year-over-year change of -13.3%.
Revenues- Other revenues: $303 million versus the eight-analyst average estimate of $365.44 million. The reported number represents a year-over-year change of -3.2%.
Revenues- Product sales: $6.68 billion versus the eight-analyst average estimate of $6.31 billion. The reported number represents a year-over-year change of +6.4%.
Product Sales- Aimovig - Total: $82 million compared to the $86.86 million average estimate based on seven analysts. The reported number represents a change of -10.9% year over year.
Product Sales- BLINCYTO - Total: $206 million versus the seven-analyst average estimate of $189.30 million. The reported number represents a year-over-year change of +48.2%.
Product Sales- Repatha - Total: $424 million compared to the $382.31 million average estimate based on seven analysts. The reported number represents a change of +30.5% year over year.
Product Sales- Kyprolis - Total: $346 million versus $361.45 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +9.2% change.
Product Sales- Vectibix - Total: $248 million versus $228.33 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +19.8% change.
Product Sales- ENBREL - Total: $1.07 billion versus the seven-analyst average estimate of $868.16 million. The reported number represents a year-over-year change of +1.6%.
Shares of Amgen have returned +2% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Amgen (AMGN) Reports Q2 Earnings: What Key Metrics Have to Say
Amgen (AMGN - Free Report) reported $6.99 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 5.9%. EPS of $5.00 for the same period compares to $4.65 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $6.63 billion, representing a surprise of +5.41%. The company delivered an EPS surprise of +12.61%, with the consensus EPS estimate being $4.44.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Amgen performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Product Sales- EPOGEN - US: $61 million versus the seven-analyst average estimate of $65.09 million. The reported number represents a year-over-year change of -55.2%.
- Product Sales- Aranesp - ROW: $242 million versus $237.22 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.6% change.
- Product Sales- ENBREL - US: $1.06 billion compared to the $855.30 million average estimate based on four analysts. The reported number represents a change of +1.8% year over year.
- Product Sales- ENBREL - ROW: $13 million versus the four-analyst average estimate of $14.73 million. The reported number represents a year-over-year change of -13.3%.
- Revenues- Other revenues: $303 million versus the eight-analyst average estimate of $365.44 million. The reported number represents a year-over-year change of -3.2%.
- Revenues- Product sales: $6.68 billion versus the eight-analyst average estimate of $6.31 billion. The reported number represents a year-over-year change of +6.4%.
- Product Sales- Aimovig - Total: $82 million compared to the $86.86 million average estimate based on seven analysts. The reported number represents a change of -10.9% year over year.
- Product Sales- BLINCYTO - Total: $206 million versus the seven-analyst average estimate of $189.30 million. The reported number represents a year-over-year change of +48.2%.
- Product Sales- Repatha - Total: $424 million compared to the $382.31 million average estimate based on seven analysts. The reported number represents a change of +30.5% year over year.
- Product Sales- Kyprolis - Total: $346 million versus $361.45 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +9.2% change.
- Product Sales- Vectibix - Total: $248 million versus $228.33 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +19.8% change.
- Product Sales- ENBREL - Total: $1.07 billion versus the seven-analyst average estimate of $868.16 million. The reported number represents a year-over-year change of +1.6%.
View all Key Company Metrics for Amgen here>>>Shares of Amgen have returned +2% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.