Amgen Inc. reported on Tuesday that its revenue for the third quarter of 2023 rose by 4% on a yearly basis to $6.9 billion. Net income in the third quarter sank 19% year over year to $1.7 billion, while diluted earnings per share decreased 19% from $3.98 to $3.22.
The company updated its 2023 guidance to expect total revenues in the range of $28 billion to $28.4 billion, and EPS in the range of $11.23 to $12.73.
"We are excited about our pipeline progress and our operating performance in the third quarter," CEO Robert Bradway said. "With the completion of the Horizon acquisition, Amgen has added rare disease medicines that fit well with our broad innovative portfolio."
Amgen shares increased 2.88% in premarket trading after the results were revealed.
