AstraZeneca Q3 Pre-tax Profit Climbs; Lifts FY Outlook

(RTTNews) - AstraZeneca Plc (AZN.L) reported that its third quarter profit before tax climbed to $1.65 billion from $922 million in the same quarter last year. The company increased its full-year guidance for total revenue excluding COVID medicines as well as for core earnings per share.

But profit attributable to owners of the parent for the third quarter declined to $1.37 billion or $0.88 per $0.25 ordinary share from $1.64 billion or $1.05 per $0.25 ordinary share in the previous year.

Core earnings per share were $1.73 up 4% at actual or 9% at constant exchange rates.

Total revenue for the third quarter grew to $11.49 billion from $10.98 billion in the prior year.

The company updated its total revenue and core earnings per share guidance for fiscal year 2023 at CER, based on the average foreign exchange rates through 2022.

The company now expects annual core earnings per share to increase by a low double-digit to low-teens percentage compared to the prior estimation of high single-digit to low double-digit percentage growth.

The company now projects total revenue for the year to increase by a mid single-digit percentage. Previously it was expected low-to-mid single-digit percentage growth. Excluding COVID-19 medicines, annual total revenue is expected to increase by a low-teens percentage. Previously it was expected low double-digit percentage growth.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com