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Amgen First Quarter 2024 Earnings: EPS Misses Expectations

Amgen (NASDAQ:AMGN) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$7.45b (up 22% from 1Q 2023).

  • Net loss: US$113.0m (down by 104% from US$2.84b profit in 1Q 2023).

  • US$0.21 loss per share (down from US$5.32 profit in 1Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Amgen EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates.

Looking ahead, revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in the US.

Performance of the American Biotechs industry.

ADVERTISEMENT

The company's shares are up 15% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 4 warning signs for Amgen you should be aware of, and 1 of them shouldn't be ignored.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.