October 25, 2017 / 8:12 PM / a year ago

Amgen quarterly profit tops expectations despite sales decline

Oct 25 (Reuters) - Amgen Inc reported higher-than-expected third quarter profit on Wednesday as lower research and other costs and higher operating margins helped offset sales declines in some of its biggest established products.

The world's largest biotechnology company also raised its full-year adjusted earnings forecast to $12.50 to $12.70 per share from its earlier view of $12.15 to $12.65, despite taking a financial hit to its Puerto Rico operations from Hurricane Maria, which devastated the island last month.

Amgen posted third-quarter net profit of $2.02 billion, or $2.76 per share, up from a profit of $2.01 billion, or $2.68 per share, a year ago.

Excluding item, Amgen said it earned $3.27 per share. Analysts on average had expected $3.11 per share, according to Thomson Reuters I/B/E/S. (Reporting by Bill Berkrot; Editing by Meredith Mazzilli)

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