Merck's Sales Rise Less Than Expected, Adjusted Earnings Top Consensus
February 05 2020 - 7:35AM
Dow Jones News
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
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