By Matt Grossman

 

Merck & Co. Inc. on Friday narrowed and raised its full-year financial guidance to levels that exceeded analysts' expectations for revenue and adjusted profit, but noted the effects of the Covid-19 pandemic are likely to hurt its full-year revenue figure by nearly $2 billion.

The company expects to report full-year revenue of $47.2 billion to $48.7 billion, and a profit of $4.58 a share to $4.73 a share. On an adjusted basis, Merck expects a profit of $5.63 a share to $5.78 a share.

Analysts had forecast full-year adjusted earnings of $5.31 a share, and revenue of $47.2 billion, according to FactSet.

Merck's guidance includes its estimate that the pandemic will have a full-year negative revenue impact of $1.95 billion.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

July 31, 2020 07:41 ET (11:41 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Merck (NYSE:MRK)
Historical Stock Chart
Von Aug 2020 bis Sep 2020 Click Here for more Merck Charts.
Merck (NYSE:MRK)
Historical Stock Chart
Von Sep 2019 bis Sep 2020 Click Here for more Merck Charts.