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Amgen Beats Consensus, Raises Earnings Guidance, But Is It Sustainable?

 
• By Mandy Jackson

Amgen's second quarter beat consensus estimates, but with only a $100m increase in sales and few major growth drivers expected in the near term, earnings growth may not last.

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Amgen Inc.'s second quarter revenue of $5.81bn and non-GAAP earnings per share (EPS) of $3.27 beat consensus estimates, but revised financial guidance for the full year painted a mixed picture, calling into question the sustainability of the company's growth.

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