MRK Merck and Co Inc

   By Allison Prang 
 

Merck & Co. Inc. (MRK) profit rose as revenue climbed and restructuring costs fell.

Merck's profit was $2.67 billion, up 56% from the comparable a year prior. Earnings were $1.03 a share, up from 63 cents a share.

Adjusted earnings were $1.30 a share, up from $1.06 a share. Analysts polled by FactSet were expecting earnings of $1.16 a share.

Sales rose 12% to $11.76 billion. Analysts were expecting $10.96 billion.

Restructuring costs fell 74% to $59 million.

The company also reported $140 million in net other expense. For the comparable quarter a year earlier, Merck reported net other income of $48 million. The company said those expenses for the second quarter of this year are because of lower income from investments in equity securities and also impairment charges.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

July 30, 2019 07:26 ET (11:26 GMT)

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