AstraZeneca earnings beat offsets revenue miss as oncology growth drives Q2
Anglo-Swedish pharma major AstraZeneca (LSE: AZN) reported higher second-quarter revenues, helped by continued growth in oncology and rare diseases, while core earnings beat market expectations despite pressure from Farxiga’s loss of US exclusivity and China volume-based procurement.
Total revenue rose 6% year-on-year, or 5% at constant exchange rates, to $15.38 billion, slightly below consensus of around $15.42 billion. Core earnings per share (EPS) increased 21%, or 18% at constant exchange rates, to $2.63, ahead of expectations of about $2.48. Reported EPS rose 2% to $1.61.
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