Short answer
Merck & Co. (MRK) filed its Q3 2025 10-Q quarterly report on Nov 5, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $17.3B (up 3.7% year over year) with net income of $5.8B.
Q3 2025 key financials · XBRL
- Revenue
- $17.3B
- +3.7% YoY · +9.3% QoQ
- Net income
- $5.8B
- +83.2% YoY · +30.7% QoQ
- EPS (diluted)
- $2.31
- +86.3% YoY · +31.3% QoQ
Source: XBRL data from the Merck & Co. (MRK) Q3 2025 10-Q on SEC EDGAR. USD.
Merck & Co. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $17.3B Q3 2025, +4% YoY; $48.6B first 9 months 2025, flat YoY; oncology and diabetes drove growth, vaccines & virology declined
- Gross margin 77.7% Q3 2025 vs 75.5% YoY; 77.7% first 9 months 2025 vs 76.6% YoY; margin improvement from product mix and lower restructuring costs
- Best segment: Pharmaceutical profits $12.5B Q3 2025 (+9% YoY); Worst: Virology sales down 64% Q3 and 62% YTD 2025 due to Lagevrio decline
- Cash from operations $13.6B YTD 2025 vs $18.0B prior year; capital deployment includes $10.5B Verona Pharma acquisition and $6.0B bond issuance
- Management sees continued pricing pressure from U.S. drug pricing reforms and international price controls; new $3B restructuring to save $1.7B annually by 2027
Risk Factors
- Section 'risk_factors' was empty or not found.
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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