Amgen Reports Q4 Revenue Beat, Shares Down 2% on 2023 Outlook Miss

Amgen (NASDAQ:AMGN) shares fell more than 2% yesterday after the company reported its Q4 results, with EPS of $4.09, in line with Street expectations. Revenue came in at $6.8 billion, better than the Street estimate of $6.74 billion.

Top- and bottom-line results were largely as expected, highlighting the steady execution of the commercial portfolio - and further shining a spotlight on the importance for BD to spark growth going forward.

The company provided its fiscal 2023 outlook, expecting EPS to be in the range of $17.40-$18.60, compared to the Street estimate of $18.33. Full-year revenue is expected in the range of $26-27.2 billion, below the Street estimate of $27.3 billion.