Amgen Inc. (NASDAQ:AMGN) reported first-quarter financial results after the closing bell Thursday. Here's a look at the highlights.

The Details: Amgen reported quarterly earnings of $3.96 per share, which beat the analyst consensus estimate of $3.87 by 2.33%. The company said EPS decreased by 1% due to higher operating and interest expenses driven by the Horizon acquisition, partially offset by higher revenues.

The company reported quarterly sales of $7.447 billion, which beat the analyst consensus estimate of $7.436 billion and represents a 21.98% increase over sales of $6.105 billion in the same period last year.

Operating income increased from $2.8 billion to $3.1 billion and the operating margin decreased 5.1 percentage points to 43.2%. Product sales grew 22%, driven by 25% volume growth.

“With many of our innovative products delivering strong growth and promising new medicines advancing through our pipeline, we are excited about delivering attractive long-term growth,” said Robert A. Bradway, CEO of Amgen.

Outlook: Amgen sees full-year 2024 adjusted earnings of between $19 and $20.20 per share versus the $19.48 Street estimate.

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AMGN Price Action: According to Benzinga Pro, Amgen shares are up 11.7% after-hours at $311 at the time of publication Thursday.

Image: Phoenix Locklear from Pixabay.