(NASDAQ: AMGN) released its latest set of quarterly results after market hours Thursday, and investors rewarded the pharmaceutical company the following day with a lift to its share price. The stock rose by almost 12% on Friday, but much of that was due to a different factor.

In its first quarter, Amgen managed to grow its revenue by a meaty 22% to $7.4 billion. This was fueled by double-digit sales increases in no fewer than 10 products from the company's portfolio of approved medications. Going in the opposite direction was non-GAAP (adjusted) earnings; this slipped by 1% to slightly over $2.1 billion, or $3.96 per share.

While the company only met the consensus analyst estimate on the top line, it exceeded with adjusted profitability. On average, prognosticators tracking Amgen's fortunes were modeling a per-share figure of $3.89.

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Source Fool.com