Amgen: Q3 Earnings Snapshot

THOUSAND OAKS, Calif. (AP) — THOUSAND OAKS, Calif. (AP) — Amgen Inc. (AMGN) on Tuesday reported third-quarter net income of $3.86 billion.

On a per-share basis, the Thousand Oaks, California-based company said it had profit of $7.08. Earnings, adjusted for non-recurring gains, were $6.45 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $5.74 per share.

The world's largest biotech drugmaker posted revenue of $10.37 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $9.95 billion.

Amgen expects full-year earnings in the range of $22.90 to $23.70 per share, with revenue in the range of $38.9 billion to $39.7 billion.

Amgen shares have increased 41% since the beginning of the year, while the S&P's 500 index has climbed 11%. In the final minutes of trading on Tuesday, shares hit $461.02, a rise of 56% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMGN at https://www.zacks.com/ap/AMGN