Merck Projects Full-Year Revenue up to $47.9 Billion

Merck & Co. (MRK) Thursday reported third-quarter profit of $4.57 billion.

The Kenilworth, New Jersey-based company said it had net income of $1.80 per share. Earnings, adjusted for one-time gains and costs, came to $1.75 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.

The pharmaceutical company posted revenue of $13.15 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $12.42 billion.

Merck expects full-year earnings in the range of $5.65 to $5.70 per share, with revenue in the range of $47.4 billion to $47.9 billion.

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