Amgen

(AMGN) - Get Report

shares sank 2% after the company beat first-quarter earnings estimates but came up short on revenue.

Net income for the latest quarter was $854 million, or 67 cents a share, up from $690 million, or 52 cents a share, a year ago. Adjusted earnings were 72 cents, 4 cents above the Wall Street analyst consensus estimate.

Revenue rose 21% from a year ago to $2.83 billion, leaving it just shy of the $2.87 billion Thomson First Call consensus.

The Thousand Oaks, Calif., company boosted its full-year guidance for earnings and revenue growth. Amgen expects earnings per share of between $2.80 and $2.90, up from the previous range of $2.70 to $2.85. The company expects revenue growth in the low-double digits to midteens, up from a previous range of high-single digits to low teens.

In after-hours trading, shares were down $1.20 to $58.05.