Merck Non-GAAP EPS of $2.58 beats by $0.23, revenue of $17.3B beats by $320M

* Merck press release [https://seekingalpha.com/pr/20285805-merck-and-co-inc-rahway-n-j-usa-announces-third-quarter-2025-financial-results] (MRK [https://seekingalpha.com/symbol/MRK]): Q3 Non-GAAP EPS of $2.58 beats by $0.23.
* Revenue of $17.3B (+3.6% Y/Y) beats by $320M.
* KEYTRUDA Sales Grew 10% to $8.1 Billion; Excluding the Impact of Foreign Exchange, Sales Grew 8%
* WINREVAIR Sales Were $360 Million; Growth of 141% Both Nominally and Excluding the Impact of Foreign Exchange
* CAPVAXIVE Sales Were $244 Million
* GARDASIL/GARDASIL 9 Sales Declined 24% to $1.7 Billion; Excluding the Impact of Foreign Exchange, Sales Declined 25%
* Animal Health Sales Grew 9% to $1.6 Billion; Excluding the Impact of Foreign Exchange, Sales Grew 7%

* Full-Year 2025 Financial Outlook

* Now Expects Worldwide Sales To Be Between $64.5 Billion and $65.0 Billion vs. $64.81B consensus
* Raises and Narrows Expected Non-GAAP EPS Range To Be Between $8.93 and $8.98 vs $8.89 consensus

* Shares +1.5% PM.

MORE ON MERCK

* Merck Q3 Earnings Preview: Issues That Will Dominate The Agenda [https://seekingalpha.com/article/4833285-merck-q3-earnings-preview-issues-that-will-dominate-agenda]
* Merck: Earnings Outlook Steady, Keytruda Now Has Some Breathing Room [https://seekingalpha.com/article/4830227-merck-earnings-outlook-steady-keytruda-now-has-some-breathing-room]
* Merck: A Golden Buying Opportunity [https://seekingalpha.com/article/4830214-merck-a-golden-buying-opportunity]
* Merck Q3 Earnings Preview: Analysts project ~50% EPS growth as Keytruda remains in focus [https://seekingalpha.com/news/4510314-merck-q3-earnings-preview-analysts-project-50-eps-growth-as-keytruda-remains-in-focus]
* Merck and Eisai's treatment combination fails liver cancer trial [https://seekingalpha.com/news/4510221-merck-and-eisais-treatment-combination-fails-liver-cancer-trial]