Shares Of Merck Dip Lower Following Q4 Print

Shares of Merck & Co., Inc. MRK were trading lower by more than 2 percent early Wednesday morning after the company released its fourth quarter results.

Merck earned $0.93 per share in the fourth quarter on revenue of $10.21 billion. Wall Street analysts were expecting the company to earn $0.91 per share on revenue of $10.36 billion.

Merck noted its fourth quarter sales fell 3 percent from the same quarter a year ago due to a 7 percent negative impact from foreign exchange, but benefited from a 3 percent net favorable impact from acquisitions and divestitures.

For the full fiscal year, Merck earned $3.59 per share on revenue of $39.5 billion.

Looking forward to fiscal 2016, Merck guided its full year earnings per share to a range of $3.60 to $3.75 on revenue of $38.7 billion to $40.2 billion. Wall Street analysts were already projecting the company to earn $3.72 per share on revenue of $40.25 billion.

"The past year was one of considerable progress and execution for Merck," said Kenneth C. Frazier, chairman and chief executive officer, Merck. "I'm excited by the near-term opportunities, as we continue launching important new products like ZEPATIER and KEYTRUDA while augmenting and advancing our pipeline."