AMGEN INC [AMGN] has reported a net loss of $6.7 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $28.2 billion
Based in THOUSAND OAKS, California, AMGEN INC operates in the MANUFACTURING sector.
The annual income statement for the fiscal year ending December 31, 2023, showed a positive trend in financial performance compared to the previous year.
In 2023, the total revenues amounted to $28.19 million, marking an increase from $26.32 million in 2022 and $25.98 million in 2021. This growth can be attributed to higher sales volumes and improved pricing strategies.
Cost of sales for 2023 totaled $8.45 million, up from $6.41 million in 2022 and $6.45 million in 2021. The increase in cost of goods sold was mainly due to higher production costs and inflationary pressures.
Operating income for 2023 was $7.90 million, showing a decrease from $9.57 million in 2022 but an improvement from $7.64 million in 2021. This decrease was primarily driven by higher operating expenses across different business segments.
Net income for 2023 stood at $6.72 million, slightly higher than $6.55 million in 2022 and $5.89 million in 2021. This indicates the company's ability to maintain profitability amidst changing market conditions.
Earnings per share (EPS) for basic and diluted amounts also showed an upward trajectory. In 2023, the basic EPS was $12.56, compared to $12.18 in 2022 and $10.34 in 2021. Similarly, the diluted EPS for 2023 was $12.49, higher than $12.11 in 2022 and $10.28 in 2021. The increase in EPS reflects the company's efficient management of shareholder value.
Overall, the financial results for the fiscal year 2023 demonstrate steady growth and resilience in the face of economic challenges.
USInMinutes/IndiaInMinutes is an offering of 10kInfo, Inc., bringing you news on the latest regulatory filings. You may subscribe to more news alerts here. Although care is taken to ensure accuracy of the data, the article does not intend to replace user diligence while taking decisions of financial or legal implications