NEW YORK (TheStreet) -- Shares of Amgen (AMGN) - Get Amgen Inc. Report rose 0.89% to $160.30 in after-hours trading Tuesday after the world's largest biopharmaceutical company reported fourth-quarter earnings after the market close that beat analysts' expectations.
Amgen reported net profit of $1.29 billion, or $1.68 a share, up from $1.02 billion, or $1.33 a share, in the same period one year ago. Adjusted EPS was $2.16, which beat the expectations of $2.05 from analysts polled by Thomson Reuters.
Amgen said a research and development tax credit that came through in the fourth quarter boosted earnings by approximately 10 cents a share.
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Revenue climbed 6% year-over-year to $5.33 billion, which surpassed the consensus estimate of $5.19 billion.