Why Merck Stock Dropped Today
Pharma giant Merck (NYSE: MRK) released a disappointing first-quarter 2021 earnings report on Thursday, and as a result, the company's stock took a bit of a dive today. The drugmaker's shares were down by 4.96% at the close of the day's trading session, after falling by as much as 5.5% earlier in the day.
Merck's results were unimpressive in more ways than one. The company's sales came in at $12.1 billion, which more or less remained flat compared to the first quarter of the previous fiscal year. Meanwhile, Merck's adjusted earnings per share (EPS) was $1.40, representing a 7% decline compared to the year-ago period. Analysts tracking the company had predicted that on average, it would report revenue of $12.66 billion and adjusted EPS of $1.63.
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Source Fool.com
