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Investing.com -- Merck &Company Inc (NYSE:MRK) shares tumbled more than 8% on pre-market trading on Tuesday after reporting mixed fourth-quarter results, with earnings falling short of expectations, revenue surpassing estimates and full-year guidance coming in below analyst projections.
Merck (NSE:PROR) posted adjusted earnings per share (EPS) of $1.72 for Q4, missing the analyst consensus of $1.81 by $0.09. However, revenue for the quarter came in at $15.6 billion, beating the expected $15.47 billion. Compared to the same quarter last year, revenue increased 7%, or 9% excluding foreign exchange impacts.
The company forecasts full-year 2025 adjusted EPS of $8.88 to $9.03, below the consensus estimate of $9.21. Revenue is projected to be between $64.1 billion and $65.6 billion, also lower than the $67.36 billion analysts were expecting.
For the full year 2024, Merck reported worldwide sales of $64.2 billion, up 7% YoY or 10% excluding foreign exchange effects. The company's blockbuster cancer drug KEYTRUDA continued to drive growth, with sales rising 18% to $29.5 billion for the year.
"We delivered strong growth in 2024, reflecting demand for our innovative portfolio, including for KEYTRUDA, which continues to benefit more patients with cancer globally, the successful launch of WINREVAIR and strong performance of our Animal Health business," said Robert M. Davis, chairman and CEO of Merck.
Merck also said it has temporarily paused shipments of Gardasil to China beginning February 2025 through at least mid-year, which is reflected in the guidance.
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