Amgen Inc. stock research
FY2024 Q4
Amgen (AMGN) Gross Margin — Quarter Ended Dec 31, 2024
In the current quarter, revenue increased over the prior quarter and the same quarter last year, while gross profit rose accordingly. Cost of revenue declined from the prior quarter and was unchanged from the year-ago period, resulting in a higher gross margin compared to both periods.
Gross margin takeaway
Quarter ended Dec 31, 2024 · FY2024 Q4
In the current quarter, revenue increased over the prior quarter and the same quarter last year, while gross profit rose accordingly. Cost of revenue declined from the prior quarter and was unchanged from the year-ago period, resulting in a higher gross margin compared to both periods.
- The margin improvement was driven by a combination of higher revenue and a reduced cost of revenue relative to the prior quarter, while cost of revenue remained flat compared to the year-ago quarter.
- Gross margin strengthened compared to both the immediately preceding quarter and the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
65.7%
Gross profit
$6.0B
Revenue
$9.1B
Cost of revenue
$3.1B
Quarter-over-quarter change
+4.7 pts
Year-over-year change
+3.7 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 |
|---|---|---|---|---|
| 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% |
| Dec 31, 2024 | $9.1B | $6.0B | $3.1B | 65.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2024
+4.7 pts
Year-over-year change
Dec 31, 2023
+3.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The margin improvement was driven by a combination of higher revenue and a reduced cost of revenue relative to the prior quarter, while cost of revenue remained flat compared to the year-ago quarter.
Gross margin strengthened compared to both the immediately preceding quarter and the same quarter one year earlier.
Monitor whether the cost of revenue remains stable as revenue grows, given its role in the current margin expansion.