Astrazeneca tops expectations in the first quarter on strong cancer drug sales
Astrazeneca is reporting first-quarter profit of $3.08 billion.
The Cambridge, Britain-based company reported net income of 99 cents per share on Wednesday.
Earnings, adjusted for non-recurring costs, were $2.58 per share.
The results beat Wall Street expectations.
The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.57 per share.
The pharmaceutical posted revenue of $15.29 billion in the period, which beat Street forecasts.
Four analysts surveyed by Zacks expected $14.96 billion.
Astrazeneca shares have increased almost 2% since the beginning of the year.
The stock has increased 34% in the last 12 months.
AstraZeneca beats expectations
- UK's biggest drugmakers see surprise profit bump, even as pharma grapples with U.S. policies CNBC —
- AstraZeneca posted stronger-than-expected profit and revenue on surging cancer drug sales Quartz —
- AstraZeneca makes surprise U-turn with £300m pharma investment The Guardian —
- Shot in the arm for GSK and AstraZeneca from cancer drug sales The Argus —
- Astrazeneca ploughs £300m into UK in surprise U-turn City AM —