Here's the hot stuff from Amgen Inc.
$AMGN (-0,31%) (NASDAQ: AMGN) Q2 2026 Earnings Release, delivered fresh on August 4, 2026, after the U.S. market closed:
🚀 Top-Line Performance & Strong Drug Results
The U.S. biotech giant smashed analyst expectations across the board in the second quarter of 2026 and demonstrated outstanding momentum in its core business:
Total revenue: Climbed by +10% YoY to $10.1 billion (drastically beating Wall Street’s consensus estimates of ~$9.43 billion).
Product revenue: Rise by +9% YoY to $9.5 billion, driven by strong volume growth across the entire portfolio. 22 products achieved double-digit percentage growth.
Six key growth drivers: Grew by +26% YoY and now account for nearly 70% of total product sales.
Top performer:
Repatha (cholesterol-lowering drug): +37% YoY to $953 million.
EVENITY (Osteoporosis): +38% YoY to $714 million.
TEZSPIRE (Asthma): +42% YoY to $486 million.
UPLIZNA (Neuroimmunology): +90% YoY to $335 million.
Setback:
Prolia fell by 32% YoY to $759 million due to biosimilar competition.
đź”® Profitability & Massive EPS Beat
Amgen delivered a major earnings surprise, as Wall Street had expected a slight decline in profits:
Adjusted Diluted EPS: Climbed to $6.29 (up from $6.02 in the same quarter last year) and absolutely crushed the consensus estimates of ~$5.60 to $5.62!
GAAP EPS: Soared by +65% YoY to $4.37 .
Free Cash Flow: Reached a whopping $3.5 billion for the quarter (up from $1.9 billion in Q2 2025).
🤖 Major guidance upgrade for full-year FY 2026
Based on the strong first half of the year, CEO Robert Bradway and management are significantly raising the full-year targets for 2026:
FY 2026 revenue forecast: Raised to $38.2 billion to $39.4 billion (The midpoint of $38.8 billion significantly beats consensus estimates of $37.7 billion; the previous range was $37.1–$38.5 billion).
FY 2026 Adjusted EPS Forecast: Raised to $22.30 to $23.50 (previously $21.70–$23.10).
Promising pipeline candidate MariTide: The monthly/bimonthly weight-loss candidate is progressing through Phase 3 trials as planned (including the ongoing Phase 3 SWITCH trial for patients switching from weekly GLP-1 injections).
⚡ 💡 Jack’s take
A picture-perfect beat & raise for the biotech heavyweight! While the market had concerns about generic pressure on older drugs ahead of the earnings report, Amgen demonstrated tremendous operational strength with $6.29 EPS (vs. $5.60 expected) and over $10 billion in quarterly revenue. The core portfolio is growing at double-digit rates, free cash flow is flowing freely, and the raised full-year forecast underscores the company’s confidence—even before the MariTide obesity asset has even hit the market!