Merck & Company, Inc.: Beat — EPS $2.49, Revenue $18.09B
Earnings BeatQ3 2026 · Pre-market
Did Merck & Company, Inc. (MRK) beat earnings today?
Yes, Merck & Company, Inc. (MRK) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+19.14% surprise
$2.49Actual
Expected: $2.09
vs. year ago -3.5%
Total Revenue+4.36% surprise
$18.09BActual
Expected: $17.33B
vs. year ago +5.0%
Released Oct 29 · 6:30 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $18.09B | $17.28B | 5.0 |
| Revenue detail — reported lines | |||
| └─Pharmaceutical | $16.27B | $15.61B | 4.0 |
| └─KEYTRUDA/KEYTRUDA QLEX | $8.60B | $8.15B | 6.0 |
| └─KEYTRUDA | $7.77B | $8.14B | -5.0 |
| └─KEYTRUDA QLEX | $830.00M | $5.00M | - |
| └─GARDASIL/GARDASIL 9 | $2.00B | $1.75B | 14.0 |
| └─PROQUAD, M-M-R II and VARIVAX | $730.00M | $684.00M | 7.0 |
| └─WINREVAIR | $694.00M | $360.00M | 93.0 |
| └─JANUVIA/JANUMET | $380.00M | $624.00M | -39.0 |
| └─Lynparza | $352.00M | $379.00M | -7.0 |
| └─PREVYMIS | $347.00M | $266.00M | 30.0 |
| └─WELIREG | $307.00M | $196.00M | 56.0 |
| └─Lenvima | $287.00M | $258.00M | 11.0 |
| └─CAPVAXIVE | $263.00M | $244.00M | 8.0 |
| └─ENFLONSIA | $187.00M | $79.00M | 138.0 |
| └─OHTUVAYRE | $184.00M | - | - |
| └─BRIDION | $144.00M | $439.00M | -67.0 |
| └─LAGEVRIO | $17.00M | $138.00M | -88.0 |
| └─Alliance Revenue – Reblozyl | $177.00M | $136.00M | 31.0 |
| └─VAXNEUVANCE | $195.00M | $226.00M | -14.0 |
| └─RotaTeq | $196.00M | $204.00M | -4.0 |
| └─Zerbaxa | $90.00M | $81.00M | 11.0 |
| └─Delstrigo | $67.00M | $77.00M | -13.0 |
| └─Isentress/Isentress HD | $52.00M | $81.00M | -36.0 |
| └─Dificid | $14.00M | $43.00M | -68.0 |
| └─Other Pharmaceutical | $793.00M | $1.00B | -21.0 |
| └─Animal Health | $1.68B | $1.61B | 4.0 |
| └─Livestock | $1.05B | $1.02B | 2.0 |
| └─Companion Animal | $628.00M | $592.00M | 6.0 |
| └─Other Revenues | $141.00M | $50.00M | 185.0 |
| GAAP Diluted EPS | $2.04 | $2.32 | -12.0 |
| Non-GAAP EPS | $2.49 | $2.58 | -3.0 |
| Net Income | $5.07B | $5.79B | -12.0 |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY 2026 Outlook |
|---|---|---|
| Sales | — | $66.8B-$67.3B (prev. $66.3B-$67.3B) |
| Non-GAAP Gross margin | — | ~81% (prev. ~81%) |
| Non-GAAP Operating expenses | — | $42.4B-$42.9B (prev. $42.0B-$42.7B) |
| Non-GAAP Other (income) expense, net | — | ~$1.4B expense (prev. ~$1.4B expense) |
| Non-GAAP EPS | — | $2.77-$2.82 (prev. $2.66-$2.76) |
| Share count | — | ~2.48B (prev. ~2.48B) |
Business Highlights
- ➤U.S. FDA approved WELIREG plus Lenvima for certain previously treated advanced ccRCC patients.
- ➤U.S. FDA accepted sac-TMT BLA for priority review in endometrial cancer.
- ➤European Commission approved KEYTRUDA plus Padcev as perioperative treatment for resectable MIBC.
- ➤Japan approved subcutaneous pembrolizumab under the KEYJECT trademark for all approved KEYTRUDA indications.
- ➤ESMO featured three late-breaking Presidential Symposia from Merck’s Phase 3 oncology pipeline.
- ➤U.S. FDA accepted ENFLONSIA sBLA for children under 2 at increased severe RSV risk.
- ➤U.S. FDA accepted two IDVYNSO sNDAs and set an April 22, 2027 PDUFA date.
- ➤WINREVAIR’s U.S. label was updated with Phase 3 HYPERION efficacy and safety data.
- ➤Presented Phase 2b tulisokibart results in moderate to severe hidradenitis suppurativa.
- ➤Presented one-year Phase 2b/3 BRUNELLO results for remigromig in diabetic macular edema.
- ➤Announced exclusive global license agreement with SciBrunch for investigational MK-2690 (SPR2015).
- ➤Introduced 2030 target to reach 100 million people with access solutions.
Management Commentary
Robert M. Davis, chairman and chief executive officer
“Our science-led strategy is transforming our business. The potentially practice-changing advances in oncology presented at last weekend’s ESMO meeting, including new data for our antibody-drug conjugate sac-TMT and the first Phase 3 validation of a therapeutic cancer vaccine, further clinically de-risk the substantial long-term opportunity of our late-phase pipeline. With positive momentum across multiple therapeutic areas, I’m increasingly confident in our ability to deliver long-term value for patients and shareholders.”