Merck raises profit outlook after Q3 sales beat

Merck reported third-quarter revenue of about $18.1 billion, up 4.7% from a year earlier and above analysts’ expectations. Adjusted earnings were $2.49 per share, beating estimates, although GAAP earnings fell to $5.1 billion, or $2.04 per share, from $5.8 billion a year earlier. Strong sales of Keytruda, including its newer under-the-skin formulation, and Gardasil helped drive results; Merck also cited earlier-than-expected purchases as a contributor to growth. The company raised its full-year adjusted earnings outlook to $2.77–$2.82 per share and lifted the low end of its revenue forecast to $66.8 billion, while leaving the high end at $67.3 billion. Merck is seeking to expand newer products and diversify its business ahead of Keytruda’s expected loss of key patent protections beginning in 2028.