RAHWAY, N.J. (AP) — RAHWAY, N.J. (AP) — Merck & Co. (MRK) on Thursday reported a loss of $4.24 billion in its first quarter.
On a per-share basis, the Rahway, New Jersey-based company said it had a loss of $1.72. Losses, adjusted for one-time gains and costs, came to $1.28 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.51 per share.
The pharmaceutical company posted revenue of $16.29 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $15.9 billion.
Merck expects full-year earnings in the range of $5.04 to $5.16 per share, with revenue in the range of $65.8 billion to $67 billion.
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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 MRK at https://www.zacks.com/ap/MRK
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