Amgen Inc. stock research
FY2024 Q3
Amgen (AMGN) Gross Margin — Quarter Ended Sep 30, 2024
Revenue increased while cost of revenue rose more than proportionally, causing gross profit to remain stable and gross margin to weaken. Compared to the same quarter one year earlier, gross margin is lower as cost of revenue grew substantially more than revenue.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue increased while cost of revenue rose more than proportionally, causing gross profit to remain stable and gross margin to weaken. Compared to the same quarter one year earlier, gross margin is lower as cost of revenue grew substantially more than revenue.
- Gross margin weakened sequentially and year-over-year, driven primarily by a higher cost of revenue relative to revenue.
- Compared to the immediately preceding quarter, revenue was higher, gross profit was stable, and gross margin was slightly lower. Versus the same quarter one year earlier, revenue was higher, gross profit was marginally higher, and gross margin was lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
61.1%
Gross profit
$5.2B
Revenue
$8.5B
Cost of revenue
$3.3B
Quarter-over-quarter change
-0.3 pts
Year-over-year change
-12.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Dec 31, 2023 | $8.2B | $5.1B | $3.1B | 62.0% |
| Mar 31, 2024 | $7.4B | $4.2B | $3.2B | 57.0% |
| Jun 30, 2024 | $8.4B | $5.2B | $3.2B | 61.4% |
| Sep 30, 2024 | $8.5B | $5.2B | $3.3B | 61.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-0.3 pts
Year-over-year change
Sep 30, 2023
-12.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin weakened sequentially and year-over-year, driven primarily by a higher cost of revenue relative to revenue.
Compared to the immediately preceding quarter, revenue was higher, gross profit was stable, and gross margin was slightly lower. Versus the same quarter one year earlier, revenue was higher, gross profit was marginally higher, and gross margin was lower.
Monitor the trajectory of cost of revenue relative to revenue in upcoming quarters.