Merck Beats Q3 Estimates, But Lowers Annual Forecast As Gardasil Vaccine Hit By Low China Demand
Portfolio Pulse from Vandana Singh
Merck reported Q3 sales of $16.66 billion, beating estimates, but lowered its annual forecast due to decreased Gardasil vaccine demand in China. Keytruda sales rose significantly, while Gardasil sales fell. The company adjusted its 2024 sales and EPS forecasts downward.
October 31, 2024 | 2:15 pm
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Merck's Q3 results beat estimates, but the company lowered its annual forecast due to weak Gardasil demand in China. Keytruda sales were strong, but overall guidance was adjusted downward, impacting stock price.
Merck's Q3 earnings exceeded expectations, but the lowered annual forecast due to decreased Gardasil demand in China is a negative indicator. Despite strong Keytruda sales, the downward revision of 2024 guidance suggests potential challenges, leading to a 3.3% drop in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100