Merck Surpasses Q1 Estimates but Trims 2025 Profit Forecast Merck reported first-quarter sales of $15.5 billion, down 2% year-over-year, but still beat analyst expectations. Keytruda revenues rose 4%, while Gardasil sales dropped sharply, mainly due to lower demand in China. The company lowered its 2025 profit outlook, citing a $200 million tariff impact and a one-time licensing charge.34