Pharmaceuticals giant Merck & Co., Inc. (MRK) on Friday posted first quarter adjusted profits that exceeded expectations, although its revenue total lagged Wall Street’s view.
The Whitehouse Station, NJ-based company reported first quarter net income of $1.74 billion, or 56 cents per share, compared with $1.04 billion, or 34 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 99 cents per share.
Revenue rose 1% from last year to $11.73 billion.
On average, Wall Street analysts expected a slightly smaller profit of 98 cents per share, albeit on higher revenue of $11.82 billion.
Merck shares posted modest gains in premarket trading Friday.
The Bottom Line
Shares of Merck (MRK) have a 4.37% dividend yield, based on last night’s closing stock price of $38.47. The stock has technical support in the $36 price area. If the shares can firm up, we see overhead resistance around the $40-$42 price levels.
Merck & Co., Inc. (MRK) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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