Why Merck Just Slashed Its Profit Outlook By Nearly 50%

Merck & Co. Inc. (NYSE: MRK ) stock edged higher Tuesday after the drugmaker reported second-quarter results that topped Wall Street revenue expectations and posted a smaller-than-expected adjusted loss, while raising its full-year sales guidance despite recording multibillion-dollar acquisition-related charges. Merck Revenue Tops Estimates Despite Acquisition Charges The company reported an adjusted loss of 13 cents per share, narrower than analysts’ expected loss of 27 cents.

31-per-share charge related to the Terns acquisition. 36 billion. “We continued to make substantial progress across our business this quarter, driven by strong execution and growing contributions from new product launches,” Chairman and CEO Robert Davis said. 76 billion in revenue, up 5% from a year earlier, led by growth in oncology and cardiometabolic and respiratory products, partly offset by weaker diabetes sales.

37 billion in global sales, up 5% year over year. Keytruda Qlex contributed an additional $463 million. 77 billion, driven by growth across its Livestock and Companion Animal portfolios. 17 billion, supported by stronger demand in Asia-Pacific and Europe and favorable tender timing in Europe, partly offset by softer demand in certain international markets.

Winrevair, Merck’s pulmonary arterial hypertension treatment, posted sales of $588 million, up 75% from a year earlier. 76 per share. 31 per share and approximately 12 cents per share in financing costs to complete the acquisition and advance MK-4208. 802 billion.

97 at the time of publication on Tuesday, according to Pro data. Photo via Shutterstock Read Also: Snap CEO Says Only 3% of Snapchat Users Pay for Subscriptions— He Thinks That's Actually Good News