Merck reports 4Q loss
KENILWORTH, N.J. (AP) — Merck is reporting a fourth-quarter loss of $872 million, but its adjusted results topped Wall Street's view.
The Kenilworth, New Jersey-based company had a loss of 32 cents per share. Earnings, adjusted for one-time costs and costs related to mergers and acquisitions, were 98 cents per share.
Analysts surveyed by Zacks Investment Research were calling for earnings of 94 cents per share.
The pharmaceutical company posted revenue of $10.43 billion in the period. Analysts polled by Zacks expected $10.45 billion.
Merck & Co. expects full-year earnings in a range of $4.08 to $4.23 per share, with revenue in a range of $41.2 billion to $42.7 billion.
Shares rose slightly in Friday premarket trading.