Amgen posts higher third-quarter revenue and profit By Reuters

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© Reuters. FILE PHOTO: An Amgen sign is seen at the company’s office in South San Francisco, California October 21, 2013 REUTERS/Robert Galbraith/Files/File Photo

By Deena Beasley

(Reuters) – Biotechnology company Amgen Inc (NASDAQ:) on Thursday said its third-quarter revenue rose 1% as sales volume growth for its cancer, rheumatology and cardiovascular products was somewhat offset by lower prices and foreign exchange losses.

Revenue for the quarter totaled $6.7, exceeding Wall Street estimates of $6.56 billion, as compiled by Refinitiv.

Adjusted earnings per share increased to $4.70 from $4.08 a year earlier, beating analyst estimates of $4.42.

Net income rose 14% to $2.14 billion.

For the full year, Amgen narrowed its outlook for adjusted earnings per share to a range of $17.25 to $17.85 on revenue of $26 billion to $26.3 billion, from its previous forecast of $17 to $18 per share on revenue of $25.5 billion to $26.4 billion.

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