They actually lost money. That was because of acquisitions collaborations and tangible asset impairments. If you strip those out, the adjusted number again was 132 versus the 138. The street was expecting. Revenue was a little shy of forecast too. It came in at 12 and a half billion dollars versus the 12.7 billion that the street was expecting. However, for the next fiscal year for the full year, they are giving guidance. That is a little above what the street was anticipating on an adjusted basis. They say: they’ll be earning six dollars and 48 cents to 6.68 cents. A share the street was only at 6.41 so that entire range of brackets, above, where the streets estimates currently are in terms of revenue. They say that they are expecting to see 51.8 billion dollars in terms of revenue. Street was at uh, 51.8 to 53.8 billion dollars. So that that does kind of stay in line in terms of the revenue, but the adjusted earnings per share above what had been anticipated, the ken frazier that you can’t, minimize his uh his tenure, then and – and i guess, i’m old enough. You know there are benefits to being old, because i remember everything that was happening uh with with ken back in the the early 2000s with vioxx uh, and he was the general counsel and they had to see the generation beforehand. They had a ceo named richard clark that it wasn’t that well thought of so they were trying to figure out how to navigate through the vioxx uh situation, which caused a lot of which caused some heart attacks and the company was going to settle and the settlement Talks were for about 50 billion dollars, ken frazier, and we were reporting on this all the time having him on squawk box all the time he decided and pushed as hard as he could to go case by case case by case case by case, and they ended Up winning and the total uh hit that they took was 5 billion dollars instead of 50 billion next thing you know ken, they elevated him uh the ceo and then you know, after that they had a pipeline problem and he brought in this unbelievable r d.
Chief from amgen this guy pearl mudder that i remember and developed key truda which, as you know, is a huge, a huge deal saved, jimmy carter’s life and others and is a uh really sort of a transformational therapeutic. So this is uh and then we know everything that happened with with trump with president trump’s uh ceo council, on top of that, a favorite of jeff sonnenfeld too uh, and he was hired by roy bagelo, legendary, roy and and uh. I think he really cared about about merck’s culture and and uh. You know how it’s viewed in the future, not just the company, but i think healthcare overall ken frazier has also done things to try and take on the healthcare industry at large and and and deal with some of the problems. You know we’ve complained for years about how you know here’s the markup level that you pay for you can get these on discounts and rebates he’s trying to take on that system too, and and squeeze some of that out to make it more transparent to make it More evident what you’re going to be paying for and not mask and hide and work through third party vendors. I think he’s had trouble trying to take on that system because it’s so ingrained, but he has done things to not only try and make it better. At merck, but try to make it better for the healthcare system overall in the united states – and you know i hope he doesn’t – give up on that fight, because we could certainly use the help stuff old friend of squawk box.
I remember i was kidding him once because he had been on so many times during vioxx and i go. You know now, your ceo, that you know you can take you know, and he goes yeah joe’s. All all you all you. I remember him saying that i’m kidding he’s got a sense of humor too yeah. He does he’s he’s celebrity he’s a good man, shepard smith.