Why Merck Stock Rocketed Nearly 5% Skyward Today
Veteran healthcare company (NYSE: MRK) was looking very healthy on the stock market Thursday. Its shares gained 4.6% in value across the day, following the publication of quarterly results that featured a surprise on the bottom line. That gain was notably higher than the 1.3% advance recorded by the S 500 index.
Before market open, Merck took the wraps off both its fourth quarter and full-year 2023 results.
For the former period, the global company's total sales came in at $14.6 billion, 6% higher year over year. Non-GAAP (generally accepted accounting principles) adjusted net profit squeaked into the black at $66 million ($0.03); however, this was well down from the over $1.2 billion it earned in the same quarter of 2022.
Source Fool.com
