Revenue rose 1% to $9.93 billion from $9.84 billion, above the FactSet consensus of $9.75 billion. Excluding non-recurring items, the drug giant said adjusted earnings per share came to $1.01, beating the FactSet consensus of 87 cents. Among Merck's top selling drugs, Januvia/Janumet revenue fell 8% to $1.51 billion, missing the FactSet consensus of $1.62 billion, while Keytruda revenue nearly tripled to $881 million, beating expectations of $787.5 million. Merck & Co. MRK, +0.66% reported Friday a second-quarter net profit that rose to $1.95 billion, or 71 cents a share, from $1.21 billion, or 43 cents a share, in the same period a year ago. For 2017, Merck affirmed its adjusted EPS outlook of $3.76 to $3.88, but revised its revenue guidance higher to $39.4 billion to $40.4 billion from $39.1 billion to $40.3 billion.
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"G&A up 50 (percent) is crazy," referring to general and administrative costs in the second quarter. Subscription sales including Prime fees rose 51 percent in the second quarter to $2.2 billion. Sales from Amazon Web Services, the company's cash cow and the biggest cloud-computing business in the world, rose 42 percent to $4.1 billion. Operating expenses rose 28.2 percent to $37.33 billion in the second quarter ended June 30. He added, "Our video content spend will continue to grow, both sequentially and quarter over quarter."
Amazon has been expanding from its original mission as an online retailer to a diversified tech firm in cloud computing, online video, computer hardware and artificial intelligence. The company also recently announced plans to acquire US grocer Whole Foods, which could help Amazon expand in that sector. "Our teams remain heads-down and focused on customers," Amazon founder and chief executive Jeff Bezos said in a release. Investments, depreciation of equipment, share buys and other expenses ate into revenue in a familiar pattern of Amazon putting long-term growth ahead of short-term profit. Amazon is once again shaking up the retail sector, with the announcement in June that it will acquire upscale US grocer.
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Amazon plows ahead with high sales and spending; profit plunges
"G&A up 50 (percent) is crazy," referring to general and administrative costs in the second quarter. Subscription sales including Prime fees rose 51 percent in the second quarter to $2.2 billion. Sales from Amazon Web Services, the company's cash cow and the biggest cloud-computing business in the world, rose 42 percent to $4.1 billion. Operating expenses rose 28.2 percent to $37.33 billion in the second quarter ended June 30. He added, "Our video content spend will continue to grow, both sequentially and quarter over quarter."
Amazon has been expanding from its original mission as an online retailer to a diversified tech firm in cloud computing, online video, computer hardware and artificial intelligence. The company also recently announced plans to acquire US grocer Whole Foods, which could help Amazon expand in that sector. "Our teams remain heads-down and focused on customers," Amazon founder and chief executive Jeff Bezos said in a release. Investments, depreciation of equipment, share buys and other expenses ate into revenue in a familiar pattern of Amazon putting long-term growth ahead of short-term profit. Amazon is once again shaking up the retail sector, with the announcement in June that it will acquire upscale US grocer.
read more visit us profit
collected by :Jack Luxor
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