: Amgen stock rises after earnings beat

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Amgen Inc. AMGN shares rose in the extended session Wednesday after the biotech drug maker topped Wall Street estimates for the quarter. Amgen shares advanced 1.2% after hours, following a 3.2% decline in the regular session to close at $216.38. The company reported third-quarter net income of $2.02 billion, or $3.43 a share, compared with $1.97 billion, or $3.27 a share, in the year-ago period. Adjusted earnings were $4.37 a share. compared with $3.66 a share in the year-ago period. Revenue rose to $6.42 billion from $5.74 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $3.80 a share on revenue of $6.38 billion. Amgen expects adjusted 2020 earnings of $15.80 to $16.15 a share on revenue of $25.1 billion to $25.5 billion, while analysts had forecast $15.78 a share on revenue of $25.38 billion.
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