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Merck & Co (NYSE: MRK) reported a drop in its third-quarter profit.

Merck's quarterly profit declined to $1.12 billion, or $0.38 per share, down from $1.73 billion, or $0.56 per share, in the year-earlier quarter. Its adjusted earnings fell to $0.92 per share from $0.95 per share.

Its sales dropped to $11.03 billion from $11.49 billion. However, analysts were estimating earnings of $0.87 per share on revenue of $11.1 billion.

Merck now expects 2013 adjusted earnings of $3.48 to $3.52 per share, versus its earlier forecast of $3.45 to $3.55 per share.

Merck shares gained 1.53% to $47.25 in pre-market trading.

Posted-In: profitEarnings News Guidance

 

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