AstraZeneca (AZN) Misses Q2 EPS by 7c; Raises FY11 EPS Outlook; Recommends Dividend; Potential Increase in Buybacks

July 28, 2011 7:50 AM EDT
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AstraZeneca (NYSE: AZN) reported Q2 EPS of $1.73, $0.07 worse than the analyst estimate of $1.80. Revenue for the quarter came in at $8.43 million versus the consensus estimate of $8.19 billion.

AstraZeneca sees FY2011 EPS of $7.05-$7.35, versus the consensus of $7.15.

The Board has recommended a first interim dividend of $0.85. Net share repurchases totalled $2.2 billion in the first half. When completed, the entire net proceeds from the sale of Astra Tech will augment share repurchases; depending on the timing, net share repurchases in 2011 could increase to $5 billion.

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