Amgen 2025 Q3 Earnings Strong Performance with 13.6% Net Income Growth

Amgen (AMGN) delivered robust Q3 2025 results, surpassing both revenue and EPS estimates. The biopharma giant raised its full-year revenue guidance to $37.5–$38.5 billion, reflecting confidence in sustained demand for its therapies. Key drivers included double-digit growth in Repatha, TEZSPIRE, and Evenity, while strategic investments in manufacturing and R&D underscored long-term growth ambitions.

Revenue

Amgen’s total revenue surged 12.1% year-over-year to $9.14 billion in Q3 2025, driven by strong performance across multiple therapeutic segments. Prolia led with $1.14 billion in sales, while Repatha and TEZSPIRE each surpassed $700 million. Enbrel and Otezla contributed $580 million and $585 million, respectively. Biosimilar revenues surged over 50%, and the company launched AmgenNow, a direct-to-patient platform for Repatha, to further boost accessibility.

Earnings/Net Income

The company’s EPS rose 13.5% to $5.98 in Q3 2025, with net income climbing 13.6% to $3.22 billion. This growth reflects Amgen’s ability to maintain profitability despite rising R&D expenses and a higher tax rate. The EPS outperformance highlights the company’s strong market position and operational efficiency.

Price Action

Amgen’s stock price gained 5.52% in the latest trading day, 9.63% over the past week, and 8.75% month-to-date, reflecting investor confidence in its earnings momentum and strategic direction.

Post-Earnings Price Action Review

Amgen’s shares have shown resilience post-earnings, with gains driven by strong demand for its flagship therapies and a revised full-year outlook. Analysts noted that the 12% revenue growth, fueled by 14% volume expansion, offset margin pressures from a 4% decline in net selling prices. The stock’s performance aligns with broader market optimism about biotech innovation and Amgen’s commitment to R&D in oncology and rare diseases.

CEO Commentary

CEO Robert Bradway emphasized robust demand for Blincyto and Xgeva, alongside stable contributions from Enbrel and Otezla. He acknowledged supply chain challenges for biosimilars but expressed confidence in resolving these by mid-2026. Strategic priorities include accelerating R&D in oncology and rare diseases, expanding market access through partnerships, and leveraging digital health initiatives.

Guidance

Amgen reaffirmed its full-year 2025 revenue guidance of $37.5–$38.5 billion and EPS of $23.50–$24.50, reflecting confidence in its product pipeline and market positioning.

Additional News

South Dakota Investment Council cut its Amgen stake by 65.3% in Q2 2025, while NewSquare Capital increased its holdings to $7.28 million. The company also announced a quarterly dividend of $2.38 per share, yielding 3.2% annually. Institutional investors like the State of Michigan Retirement System and TD Private Client Wealth adjusted their positions, with some boosting stakes amid optimism about Amgen’s growth trajectory.

Amgen’s strategic focus on innovation and market expansion continues to attract institutional attention, despite some portfolio rebalancing by key investors.

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