AMGEN INC (NASDAQ:AMGN) reported fourth-quarter financial results for 2025 that surpassed analyst expectations, a performance that has been met with a positive initial reaction in after-hours trading. The biotechnology giant delivered robust top-line growth and significant bottom-line outperformance, while also providing full-year revenue guidance that exceeds current Wall Street forecasts.
Earnings and Revenue Beat
The company’s financial performance for the quarter ending December 31, 2025, demonstrated strength across key metrics. Amgen reported revenue of $9.87 billion, representing an 8.6% increase compared to the same period in 2024. This figure came in ahead of the consensus analyst estimate of approximately $9.66 billion. On the profitability front, the beat was even more pronounced. Amgen posted non-GAAP earnings per share (EPS) of $5.29, which was 11.9% higher than the $4.83 analysts had projected.
The quarterly performance highlights include:
- Reported Revenue: $9.87 billion
- Estimated Revenue: $9.66 billion
- Revenue Beat: ~$205 million
- Reported Non-GAAP EPS: $5.29
- Estimated Non-GAAP EPS: $4.83
- EPS Beat: $0.46 per share
Market Reaction and Forward Guidance
The market's immediate response to the earnings release has been favorable. In after-hours trading following the announcement, Amgen’s stock price rose approximately 1.1%. This positive movement suggests investors are encouraged by the earnings beat and the company's forward-looking statements.
A key driver of this optimism appears to be the company's provided outlook. For the full year 2026, Amgen issued revenue guidance with a midpoint of $37.7 billion. This outlook stands 1.8% above the current analyst consensus estimate of $37.0 billion for the year. Providing guidance that exceeds market expectations typically signals management confidence in the underlying business momentum and future product sales.
Analyst Estimates and Future Quarters
Looking ahead, Wall Street analysts have already begun modeling expectations for the coming periods. For the first quarter of 2026, the consensus estimates currently stand at:
- Estimated Q1 2026 Revenue: $8.81 billion
- Estimated Q1 2026 EPS: $5.18
For the entirety of 2026, analysts are projecting sales of approximately $37.7 billion and revenue of $22.4 billion. Amgen’s own full-year sales guidance aligns with the higher end of these projections, setting a positive tone for the year. Investors will be closely monitoring the company's execution in Q1 to see if it can maintain the momentum needed to meet these elevated expectations.
Press Release Summary
The core announcement from Amgen centered on the disclosure of its fourth-quarter and full-year 2025 financial results. The press release highlighted the year-over-year growth in sales and the earnings per share figures that exceeded analyst forecasts. A significant portion of the communication was dedicated to the company's 2026 revenue guidance, which was presented as a point of strength and future growth. The release serves to underscore the company's current operational performance and its confidence in the durability of its product portfolio, which includes key drugs like Otezla, Prolia, and Repatha.
For a detailed breakdown of historical earnings, future estimates, and analyst ratings, you can review the full earnings data for AMGEN INC here.
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