Amgen stock slips as quarter beats Street view but outlook doesn't

Amgen Inc. shares ticked lower in the extended session Thursday after the biotech drug maker's quarterly results topped Wall Street estimates but its outlook came up short. Amgen shares declined 2% after hours, following a 0.4% decline in the regular session to close at $226.15. The company reported fourth-quarter net income of $1.7 billion, or $2.85 a share, compared with $1.93 billion, or $3.01 a share, in the year-ago period. Adjusted earnings were $3.64 a share. Revenue declined to $6.2 billion from $6.23 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $3.41 on revenue of $6.03 billion. Amgen expects adjusted 2020 earnings of $14.85 to $15.60 a share on revenue of $25 billion to $25.6 billion, while analysts had forecast earnings of $16.19 a share on revenue of $25.51 billion for the year.

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