The Kenilworth, N.J. company posted a 5% increase in quarterly sales to $10.5 billion, compared with the $10.17 consensus expectation, as compiled by FactSet. Adjusted earnings per share at $1.07 came in above predictions for EPS of 99 cents and above the 96 cents Merck reported a year earlier.
Quarterly results were buoyed by strong growth from its Keytruda immunotherapy within its oncology unit. That helped push pharmaceutical sales up 6%. Animal health sales rose 5%.
Merck said it now expects full-year 2016 GAAP EPS to be between $2.02 and $2.09 and full-year 2016 non-GAAP EPS to be between $3.71 to $3.78. It predicts revenue will come in between $39.7 billion and $40.2 billion.
On reporting second-quarter figures in August, Merck had previously lowered its full-year 2016 GAAP EPS range to be between $1.98 and $2.08, and raised the bottom end of its full-year 2016 non-GAAP EPS range to predict a range of $3.67 to $3.77.
Merck shares were up 1.4% at $61.61 in premarket trading.