Merck & Co Inc (NYSE:MRK, ETR:6MK) on Thursday reported third quarter 2025 earnings and revenue that surpassed Wall Street expectations, lifted by strong demand for its cancer immunotherapy Keytruda, but reduced its full-year sales outlook to reflect lower estimated tariff costs, among other factors. The pharmaceutical company's revenue for the quarter rose 4% year over year to $17.28 billion, exceeding the $16.96 billion analyst consensus estimate provided by LSEG.
The headline numbers for Merck (MRK) give insight into how the company performed in the quarter ended September 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Merck (MRK) came out with quarterly earnings of $2.58 per share, beating the Zacks Consensus Estimate of $2.36 per share. This compares to earnings of $1.57 per share a year ago.
Merck reported third-quarter earnings and revenue that topped estimates in part due to strong demand for its cancer immunotherapy Keytruda, and narrowed its full-year profit outlook to reflect lower estimated tariff costs and other items. Sales of Keytruda topped more than $8 billion for the first time in a quarter, up 10% from the same period a year ago.
Merck & Co on Thursday posted higher third quarter revenue as growth from its blockbuster cancer drug Keytruda offset falling sales from human papillomavirus vaccine Gardasil in China.
MRK faces pressure from weak vaccine sales and rising competition, but strong oncology growth and new launches could support a rebound.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Merck (MRK) have what it takes?
MRK expects new products like Capvaxive, Winrevair, and the Animal Health business to support its top-line growth in the third quarter.
Merck is breaking ground on a new 400,000-square-foot manufacturing facility in Elkton, Virginia, as part of its $70 billion U.S. investment strategy.
Merck faces a sharp Gardasil slowdown as weak demand in China and Japan affects sales of the vaccine.
President Donald Trump has unveiled an agreement with Germany's Merck KGaA to lower the cost of its fertility medicines in the United States in exchange for exemptions from threatened tariffs, part of his drive to make in vitro fertilisation (IVF) more affordable. Under the deal, Merck will sell its full range of IVF drugs through Trump's direct-to-consumer platform, TrumpRX, and expand manufacturing in the US.
Merck & Co., Inc. remains the largest U.S. pharma company in 2025, driven by oncology and Keytruda, despite looming patent expiration risks. Keytruda accounts for over half of MRK's pharmaceutical revenue, making its 2028 patent loss a significant challenge for future growth. MRK management is actively working to offset the Keytruda revenue gap, laying a foundation for post-2028 recovery.