Merck Lifts FY Revenue Guidance

Merck shares rose 1% in pre-market trade after the pharmaceutical company reported Q2 adjusted earnings of $1.01, up from $0.93 in the same period a year ago and topping the estimate of $0.87 from analysts polled by CapIQ.
Total revenues of $9.93 billion were up from $9.84 billion in the same period a year ago and exceeded the Street projection of $9.75 billion.

Merck maintained its FY adjusted EPS guidance in the range of $3.76 to $3.88, straddling the Street estimate of $3.85. The company narrowed and raised its FY revenue range to between $39.40 billion and $40.40 billion from prior guidance of $39.10 billion and $40.30 billion, straddling the Street projection of $40.05 billion.

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