Merck & Co., Inc. revealed on Thursday that its sales in the third quarter of the fiscal year 2024 saw an annual increase of 4% to come in at $16.7 billion.
The pharmaceutical company's net income landed at $3.1 billion in the third trimester, plummeting 33% year-over-year. Meanwhile, its diluted earnings per share (EPS) stood at $1.24, declining from an EPS of $1.86 reported in the third quarter of 2023.
"Our pipeline is advancing and expanding, demonstrating our success in creating a sustainable innovation engine, and positioning Merck with a more diversified portfolio to drive growth. I continue to remain confident in the strength of our business and our ability to execute, and I want to thank our colleagues across the globe for their focus and commitment as we work to create lasting value for patients, shareholders and all our stakeholders," Chairman and CEO Robert M. Davis commented. Merck's stock climbed by 1.13% in premarket trading following the earnings report.
