Merck KGaA Raises Profit Outlook but Cuts Sales Guidance on Weak Dollar

Merck KGaA lifted its outlook for full-year earnings growth but trimmed its forecast for revenue expansion, saying the recent weakening of the U.S. dollar is eroding the value of overseas sales when converted into euros. The German science and technology group said the currency drag more than offsets operational momentum, prompting management to keep a cautious stance on sales even as profitability is now expected to improve at a faster pace than previously projected.