AstraZeneca Raises Core EPS Guidance Despite Profit Miss -- Update
09 November 2023 - 9:03AM
Dow Jones News
By Ian Walker
AstraZeneca raised its full-year guidance for core earnings per
share and total revenue excluding Covid-19 medicines despite a
lower third-quarter profit that missed forecasts after booking a
tax charge compared with a credit for the comparable period.
The Anglo-Swedish pharmaceutical giant said Thursday that it
expects core earnings per share to increase by a low double-digit
percentage compared with previous guidance of a high single-digit
to low double-digit percentage increase.
Total revenue excluding Covid-19 medicines is now expected to
increase by a low-teens percentage at constant-exchange rates
compared with previous expectations of low double-digit percentage
growth.
Total revenue is expected to increase by a mid single-digit
percentage compared with previous guidance of low-to-mid
single-digit, it said.
Net profit attributable to shareholders for the quarter was
$1.37 billion compared with $1.64 billion and a FactSet consensus
of $1.58 billion, based on four analysts forecasts. It booked a tax
charge of $274 million compared with a credit of $720 million.
Core earnings per share rose to $1.73 compared with $1.67, a
rise of 9% at constant-exchange rates.
Revenue rose to $11.49 billion from $10.98 billion, up 6% at
constant-exchange rates.
Revenue consensus was $11.55 billion, while core EPS consensus
was $1.69.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
November 09, 2023 02:48 ET (07:48 GMT)
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