Amgen Q2 2022: GAAP EPS $2.45, revenue $6.6B; guidance updated; non-GAAP policy change

AMGEN INC

2022-Q2 EPS reported $5.13 revenue$12,832,000,000

Total revenues $6.6B (+1% YoY); product sales +3% driven by Repatha, Prolia, LUMAKRAS, EVENITY.
GAAP EPS $2.45 vs $0.81 YoY; non-GAAP EPS $4.65 vs $1.77 YoY; free cash flow $1.7B flat.
2022 revenue guidance revised to $25.5-$26.4B; non-GAAP EPS reaffirmed $17-$18.
Updated non-GAAP policy excludes upfront/milestone payments; prior 2021 non-GAAP EPS recast to $13.92 from $17.10.

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