Filing Flows › Amgen (AMGN) › Q1 2025
Amgen (AMGN) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 2, 2025
Amgen (AMGN) reported revenue of $8.1B for the first quarter 2025 (Q1 2025), +9% from a year earlier and -10% from the quarter before. Operating margin was 14.5%, net earnings $1.7B (21.2% of revenue).
Amgen, Q1 2025: revenue $8.1B (+9% year over year), operating margin 14.5%, net earnings $1.7B, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.1B | -10% | +9% |
| Operating profit | $1.2B | -49% | +19% |
| Net earnings | $1.7B | +176% | — |
| Operating cash flow | $1.4B | -71% | +102% |
| Free cash flow | $991M | — | — |
What changed
Revenue was $8.1B in Q1 2025, up 9% year over year and down 10% from the previous quarter. Product sales was the largest line at 97% of revenue. Product sales added $0.76B year over year (up 11%), 108% of the total change.
Operating profit was $1.2B, a 14.5% margin (up 1.1 points year over year). Of the extra revenue versus a year earlier, 27% reached operating profit, above the 13% margin then. Total costs grew 8% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+690%). Net earnings were $1.7B. The effective tax rate was 12.3%. Non-operating items added $0.80B, 40% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.4B (up 102% year over year), 80% of net earnings. Non-cash charges added back $1.4B of depreciation and amortization and $0.09B of share-based compensation. Working capital and other items used $1.8B. After capital Expenditures ($0.40B), free cash flow as the company reports it was $1.0B.
Questions
What was Amgen's revenue in the first quarter 2025?
Amgen (AMGN) reported revenue of $8.1B for the first quarter 2025 (Q1 2025), +9% from a year earlier and -10% from the quarter before.
Was Amgen profitable in the first quarter 2025?
Operating profit was $1.2B (14.5% of revenue) and net earnings $1.7B.
Source: Amgen 10-Q on SEC EDGAR.