Amgen Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Amgen Inc. (AMGN) released earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $767 million, or $1.42 per share. This compares with $1.62 billion, or $3.00 per share, in last year's fourth quarter.

Excluding items, Amgen Inc. reported adjusted earnings of $2.54 billion or $4.71 per share for the period.

Analysts on average had expected the company to earn $4.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.9% to $8.20 billion from $6.84 billion last year.

Amgen Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $767 Mln. vs. $1.62 Bln. last year. -EPS (Q4): $1.42 vs. $3.00 last year. -Analyst Estimates: $4.60 -Revenue (Q4): $8.20 Bln vs. $6.84 Bln last year.