Amgen Inc (NASDAQ:AMGN, XETRA:AMG) shares rose about 4% on Wednesday after the biotechnology company reported second quarter 2026 results that topped Wall Street expectations, supported by higher revenue and growth across its portfolio of medicines.
The company reported adjusted earnings per share of $6.29 for the quarter, ahead of analyst estimates of roughly $5.60 to $5.62.
Revenue reached $10.05 billion, exceeding consensus expectations of about $9.40 billion.
Amgen reported total revenue increased 10% year over year to $10.1 billion, while product sales rose 9%, driven by higher volumes. The company said 22 products delivered double-digit sales growth during the quarter, with 17 products now generating annualized sales of more than $1 billion based on second-quarter performance.
GAAP earnings per share increased to $4.37 from $2.65 a year earlier, while GAAP operating income rose to $3.5 billion from $2.7 billion. The company reported a GAAP operating margin of 36.8%, up 6.5 percentage points from the prior-year period.
On an adjusted basis, operating income increased to $4.6 billion from $4.3 billion, while adjusted operating margin was 48.4%, down slightly from 48.9% a year earlier. Amgen reported free cash flow of $3.5 billion for the quarter, compared with $1.9 billion in the same period last year.
“Our results demonstrate strong performance across our business. Our six key growth drivers grew 26% year over year, generating nearly 70% of second-quarter product sales,” Amgen CEO Robert Bradway said.
“As we expand the potential of our existing medicines through new indications and advance the next wave of pipeline molecules through Phase 3, we remain confident in our ability to deliver growth well into the next decade.”