Merck Expects Nearly $2 Billion Covid-19 Revenue Impact in 2020
31 July 2020 - 9:56PM
Dow Jones News
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.
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