Amgen Reports Strong Q2 Sales and Profit, Raises Outlook

Amgen reported a 9% sales increase in Q2, with revenue topping projections at $10.1 billion. Profit exceeded street view, and the company lifted its outlook by $1 billion after strong drug sales. Amgen's stock price rose 3.03% on the news.

AMGN reported second-quarter 2026 revenue of $10.1 billion, up roughly 9% year-over-year and ahead of Wall Street's estimates, with adjusted earnings per share of $6.29 comfortably beating the $5.60 consensus.

Six of Amgen's key growth products, spanning cardiovascular, inflammation, rare disease, oncology and biosimilars, grew 26% year-over-year and now make up about 70% of total product sales, underscoring how diversified the company's revenue base has become.

On the strength of those results, Amgen raised its full-year 2026 guidance to $38.2 billion to $39.4 billion in revenue and $22.30 to $23.50 in non-GAAP earnings per share, both above its prior targets. The company also generated $3.5 billion in free cash flow during the quarter.

Shares rose 3.03% on the news, suggesting investors see the raised guidance as evidence Amgen's pipeline can keep offsetting maturity in older franchises. The outlook could still face pressure if upcoming regulatory decisions or new biosimilar competition slow momentum in later quarters.

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