Amgen Inc. Reports Strong Q1 Performance

Amgen Inc. has announced a remarkable start to 2025, with first-quarter revenues reaching $8.1 billion. This marks a 9% increase compared to the same period last year, slightly exceeding market expectations.

Financial Highlights

The company reported a GAAP net income of $1.7 billion, or $3.20 per diluted share, a significant turnaround from a net loss of $113 million, or $0.21 per share, in the first quarter of 2024. Furthermore, GAAP operating income saw a 20% year-on-year increase, totaling $1.2 billion.

CEO's Optimistic Outlook

"Our global product demand was robust in the first quarter. The successful launches of new products and promising Phase 3 trial results for several offerings bolster our confidence in sustained long-term growth," stated CEO Robert Bradway.

Market Reaction

Following the earnings announcement, Amgen's shares experienced a 0.57% uptick in after-hours trading, reflecting investor optimism.