Merck & Co., Inc. published on Thursday that its sales in the first quarter of the fiscal year 2022 stood at $15.9 billion, up by 50% in comparison to the same period the previous year, exceeding expectations.
The company's net income came in at $4.31 billion, improving from the $2.75 billion a year before. Its diluted earnings per share (EPS) rose 57% to $1.70, much better than the previous $1.08 in fiscal 2021.
"Robust first-quarter performance was driven by significant clinical advancements in our research pipeline and effective commercial execution across a broad set of key growth drivers," said Chief Executive Officer and President Robert M. Davis (pictured). "We remain focused on driving our strategy, which is led by science, and are confident in the durability of our growth prospects as we continue to provide value for patients, shareholders, and all stakeholders today and well into the future."
Following the report's release, Merck's shares advanced by 1.88% in premarket trading.
