Merck & Co. Inc. announced on Thursday that its sales in the fourth quarter of its fiscal 2023 amounted to $14.6 billion, rising 6% year over year, exceeding expectations.
The company posted a net loss of $1.2 billion, compared to an income of $3.0 billion in the fourth quarter of 2022, with earnings per share reporting in negative $0.48. According to Merck's full-year 2024 guidance, the company is expecting its sales to reach between $62.7 billion and $64.2 billion.
"2023 was another very strong year for Merck. I am extremely pleased by the progress we've made to develop and deliver transformative therapies and vaccines that will help save and improve lives around the world … As we move forward, I'm confident that our strong momentum will continue, underpinned by the unwavering dedication of our talented global team" CEO Robert Davis said. Merck's shares lost 0.48% in the premarket session in New York after the results were released.
