Merck leaps after raised FY sales forecast on Keytruda, Gardasil strength

Merck (NYSE:MRK) shares are moving higher in early Tuesday trading after the company reported a better-than-expected set of second quarter results and full-year guidance.

Merck reported a loss per share of $2.06 on revenue of $15 billion, while the Street was looking for a loss per share of $2.18 on revenue of $14.43B. Revenue rose 3% year-over-year as sales of Keytruda jumped 19% to $6.27B. Similarly, revenue from Gardasil surged 47% YoY to $2.46B.

“We continue to make great progress as we advance our broad and deep pipeline, raise the bar of innovation, and bring forward leading-edge science to save and improve lives around the world,” said Robert M. Davis, chairman and chief executive officer, Merck.

“We delivered robust underlying growth during the second quarter and are well positioned to achieve strong full-year results. I am proud of our talented, diverse and dedicated global team that continues to focus on creating value for patients and all our stakeholders now and well into the future.”

As a result, the company hiked its full-year outlook guidance for sales to a new range of $58.6-59.6B, up from the prior $57.7-58.9B. Analysts were looking for $53.2B in full-year sales.

Adjusted earnings per share are seen at $3.00, topping the consensus for $2.60.