GO
Loading...

Enter multiple symbols separated by commas

Merck Net Profit Tops Target

Merck said second-quarter net profit slumped to 85.5 million euros ($117.9 million) from 528.5 million euros in the year-earlier period after a gain from the sale of assets last year was not repeated and as the company wrote down the value of some inventory after buying Serono.

Analysts surveyed by Thomson Financial News had forecast net profit to decline to 30.8 million euros.

Sales fell to 1.72 billion euros from 1.07 billion euros a year earlier, the company said in a statement. The average analyst forecast was at 1.76 billion euros.

Earnings before interest and tax were at 94.6 million euros, compared with 573.5 million euros a year earlier, it said.

Merck said it sees full-year operating profit gaining more than 20% from last year.

It cautioned that the euro's current strength against the dollar may have an impact on full-year sales.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • In a rare menu test, Chipotle is testing a Chorizo Burrito, a spicy sausage made with chicken and pork, in its Kansas City restaurants.

    In a relatively a rare move for Chipotle Mexican Grill, Chipotle began testing a new menu item Tuesday.

  • A prototype of a Diebold bank branch of the future.

    Big banks are spending on futuristic branches, but it's all a waste of time and money, say financial technology experts.

  • Nouriel Roubini

    Nouriel Roubini explains how and why more economic liquidity may have led to "severe market illiquidity."

U.S. Video