Investing.com - Amgen (NASDAQ:AMGN) reported on Monday fourth quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Amgen announced earnings per share of $4.36 on revenue of $6.85B. Analysts polled by Investing.com anticipated EPS of $4.07 on revenue of $6.88B.
The company's Q4 revenues increased 3% compared to Q4 2020. Amgen said the rise was driven by increased "Other Revenue" from the Eli Lilly (NYSE:LLY) Covid-19 manufacturing collaboration. However, its product sales decreased 1% globally during the quarter.
"We realized strong volume growth for many of our key products during last year," said Robert Bradway, chairman, and CEO of Amgen. "These products, combined with our many pipeline opportunities, position us well for long-term growth."
Amgen shares gained 2.90% in after-hours trade following the report.
The company said it will host a virtual business review on Tuesday where it will provide financial guidance for 2022 and longer-term financial guidance through the end of the decade.