Amgen (AMGN) Stock Down Despite Q2 Earnings & Sales Beat

Amgen (AMGN) reported second-quarter 2024 adjusted earnings of $4.97 per share, which beat the Zacks Consensus Estimate of$4.93. Earnings declined 1% year over year due to higher operating costs and higher interest expenses.Total revenues of $8.39 billion beat the Zacks Consensus Estimate of$8.31 billion. Total revenues rose 20% year over year.Total product revenues increased 20% from the year-ago quarter to $8.04 billion. Higher volumes were partially offset by lower selling prices of several drugs. Volu ...