Amgen Q2 revenue $9.2B (+9% YoY); GAAP EPS $2.65 (+92%), non-GAAP EPS $6.02 (+21%)

AMGEN INC

2025-Q2 EPS reported $5.84 revenue$17,328,000,000

Total revenues $9.2B, up 9% YoY; product sales up 9% on 13% volume growth, partially offset by 3% lower net selling price.
GAAP EPS $2.65 vs $1.38 (+92%); GAAP operating income $2.7B, margin 30.3%.
Non-GAAP EPS $6.02 vs $4.97 (+21%); non-GAAP operating margin 48.9%.
Free cash flow $1.9B in Q2, down from $2.2B, reflecting deferred 2024 tax payments and higher capex.
Fifteen products had double-digit sales growth, including Repatha, EVENITY, IMDELLTRA, BLINCYTO, TEZSPIRE, UPLIZNA, TAVNEOS.

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