By Allison Prang

 

Merck & Co. Inc.'s (MRK) earnings increased as the company recorded an almost $400 million drop in income tax costs from the comparable year-earlier quarter.

Merck reported $2.36 billion in earnings, up 29% from the comparable quarter a year ago. Earnings were 92 cents a share, up from 69 cents a share.

Adjusted earnings were $1.16 a share, up from $1.04 a share. Analysts according to FactSet were expecting $1.15 a share.

Sales were $11.87 billion, up almost 8%. Analysts expected $11.98 billion.

The company's income tax costs fell to $428 million, down almost $400 million from a year earlier.

Restructuring costs rose to $194 million for the quarter, up 41% on a year earlier.

 

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

 

(END) Dow Jones Newswires

February 05, 2020 07:20 ET (12:20 GMT)

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