Amgen 2010 forecast in line with Street view

  @ibtimes on

Amgen Inc on Monday issued a 2010 forecast that was in line with Wall Street expectations, but its slightly higher fourth-quarter profit came in shy of analyst estimates.

The world's largest biotechnology company, which has been struggling with falling sales of its once top-selling anemia drug Aranesp, said it expects 2010 revenue between $15.1 billion and $15.5 billion and earnings of $5.05 to $5.25 per share, excluding items.

Wall Street analysts expect 2010 revenue of $15.31 billion, and earnings of $5.13 per share.

Amgen posted a fourth-quarter net profit of $931 million, or 92 cents per share, compared with a profit of $925 million, or 87 cents per share, a year ago.

Excluding items, Thousand Oaks, California-based Amgen had adjusted earnings of $1.05 per share. Analysts on average expected $1.12 per share, according to Thomson Reuters I/B/E/S.

Revenue for the quarter rose 2 percent to $3.8 billion, in line with Wall Street expectations.

(Reporting by Bill Berkrot. Editing by Robert MacMillan)

Join the Discussion
Nintendo's Newest Kirby Game Is A Total Detour
Nintendo's Newest Kirby Game Is A Total Detour
Fitbit's First Activity Watch Falls Short
Fitbit's First Activity Watch Falls Short
Dying Light Is The Spiritual Successor To 'Dead Island'
Dying Light Is The Spiritual Successor To 'Dead Island'
The Last Mitsubishi Evolution
The Last Mitsubishi Evolution
The i8 Is Proof BMW Should Make More Mid-Engined Cars
The i8 Is Proof BMW Should Make More Mid-Engined Cars
QD Vision Shows Off Cheap 4K TVs
QD Vision Shows Off Cheap 4K TVs

More Video