This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Merck Lifts Guidance, Sales Driven by Diabetes Treatment

NEW YORK ( TheStreet) -- Merck (MRK - Get Report) raised the lower end of its full-year guidance as its topped analysts' estimates for the third quarter.

The company raised the low end of its previous full-year earnings estimate range and now expects $3.72 to $3.76 a share. Merck said it expects to see revenue growth for the year in the mid-single-digits range.

The company posted third-quarter earnings excluding items of $2.91 billion, or 94 cents a share, compared to $2.65 billion, or 85 cents a share, in the year-ago period. Revenue was up 8% to $12 billion.

Analysts were expecting earnings per share of 91 cents on revenue of $11.91 billion.

Revenue was driven by the success of the company's combined diabetes treatment Januvia/Janument. The company reported worldwide sales grew 41% to $1.2 billion in the third quarter driven by strong growth in all regions.

Follow TheStreet on Twitter and become a fan on Facebook.

Sales of asthma drug Singulair grew 10% from the third quarter of 2010 to $1.3 billion.

--Written by Carlton Wilkinson

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
MRK $57.60 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs