Company news: Merck’s (MRK) quarterly results top analysts’ estimates

Merck (MRK) reported Q2 FY2024 earnings of $2.28 per share (versus $(2.06) per share in Q2 FY2023), beating analysts’ consensus estimate of $2.16 per share.

The company’s quarterly revenues amounted to $16.100 bln (+7.1% y/y), beating analysts’ consensus estimate of $15.870 bln.

The company also lowered FY2024 EPS guidance to $7.94-$8.04 from its previous outlook of $8.53-$8.65 to reflect the negative impact of the one-time charge for the acquisition of EyeBio, versus analysts’ consensus estimate of $8.16 but slightly raised FY2024 revenues guidance to $63.4-$64.4 bln from its previous guidance of $63.1-$64.3 bln versus analysts’ consensus estimate of $64.29 bln.

MRK fell to $125.49 (-1.79%) in pre-market trading.