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Merck Reports Strong Q2 Results, Driven by Keytruda, EPS $2.28, Revenue $16.11B

Jul 30, 2024, 11:00 AM

Merck & Co. reported higher-than-expected second-quarter results for 2024, driven by strong growth in its blockbuster cancer immunotherapy, Keytruda. The company posted an adjusted earnings per share (EPS) of $2.28, surpassing the Bloomberg consensus estimate of $2.17 and the forecast of $2.16. Revenue also exceeded expectations, reaching $16.11 billion compared to the forecasted $15.85 billion. Keytruda's performance contributed significantly to these results, reinforcing its position as the world's best-selling prescription medicine. Additionally, Lagevrio revenue was reported at $85.1 million. Despite the strong quarterly performance, Merck provided a mixed full-year outlook. The company has raised its sales outlook due to strong demand for its top drugs. Merck's market cap stands at $323.64 billion.