06:40 AM EDT, 05/03/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Amgen's ( AMGN ) shares soared 14% in premarket activity on Friday after the company's Q1 adjusted earnings beat market expectations as sales jumped from a year ago.

The company reported Q1 non-GAAP earnings late Thursday of $3.96 per diluted share, down from $3.98 a year earlier.

Analysts polled by Capital IQ expected $3.89.

Revenue for the quarter that ended March 31 was $7.45 billion, up from $6.11 billion a year earlier.

Analysts surveyed by Capital IQ expected $7.45 billion.

The company now expects 2024 non-GAAP earnings of $19 to $20.20 per diluted share. Analysts surveyed by Capital IQ expect $19.53. The company previously expected $18.90 to $20.30.

The company expects revenue for the full year of $32.5 billion to $33.8 billion. Analysts polled by Capital IQ expect $32.96 billion. The company previously expected $32.4 billion to $33.8 billion.

Price: 319.06, Change: +40.67, Percent Change: +14.61