AstraZeneca PLC (AZN.L,AZN) reported profit before tax of $678 million for the quarter ended 31 March, 2015, compared to $638 million, a year ago. Profit to Owners of the Parent increased to $550 million from $504 million. Earnings per $0.25 Ordinary Share was $0.44, compared to $0.40. Core EPS was $1.08, for the quarter.
On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $1.05 for the quarter. Analysts' estimates typically exclude special items.
Product sales were $5.75 billion, compared to $6.42 billion, prior year. Analysts expected revenue of $5.95 billion for the quarter. Total revenue decreased to $6.06 billion from $6.46 billion.
The company reiterated the guidance provided on 6 March 2015. AstraZeneca expects fiscal year 2015 total revenue to decline by mid single-digit percent at CER. Core EPS is expected to increase by low single-digit percent at CER. Based on current exchange rates, the company expects total revenue to decline by low double-digit percent, and Core EPS to be broadly in line with 2014.
Pascal Soriot, CEO, said: "Our encouraging performance in the quarter supports our full year guidance. Total Revenue grew by 1%, with the growth platforms representing 56%, after particularly strong results in Emerging Markets and with Brilinta/Brilique. Our co-commercialisation agreement for Movantik in the US was a good illustration of how we will bring important medicines to patients and externalisation value to our shareholders."
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