Analysts were expecting earnings per share of $1.67 on $14.05 billion in revenue, according to Zacks Investment Research.
Merck’s bottom line fell 29% in the quarter to $3.25 billion as research and development costs and other expenses rose.
The Rahway, New Jersey-based company now expects full-year earnings in the range of $7.32 to $7.37 per share. That’s a higher and narrower forecast than what it predicted in July.
Analysts expect, on average, earnings of $7.34 per share from Merck in 2022, according to FactSet.
Company shares jumped 2% to top $100 in premarket trading Thursday. That would mark a new all-time high price in regular trading, according to FactSet.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRK at https://www.zacks.com/ap/MRK