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Amgen on Tuesday reported first-quarter profit and revenue that easily beat Wall Street expectations, driven by rising drug sales.
The pharmaceutical company posted adjusted earnings of $2.48 per share, up 33 percent from the year before. Revenue jumped to $5.03 billion, an 11 percent increase year over year.
Amgen shares moved more than 2 percent higher in extended trading Tuesday.
Amgen's product sales rose 12 percent year over year. The company touted strong performance from drugs including Enbrel and Prolia.
It also increased its full-year revenue guidance to roughly $21 billion.
Wall Street had expected Amgen to post first-quarter earnings of $2.10 per share on $4.91 billion in revenue, according to a consensus estimate from Thomson Reuters.