AstraZeneca (AZN) Tops Q3 EPS by 26c; Boosts FY15 EPS Growth Outlook

AstraZeneca (NYSE: AZN) reported Q3 EPS of $1.03, $0.26 better than the analyst estimate of $0.77. Revenue for the quarter came in at $5.95 billion versus the consensus estimate of $5.9 billion.

Pascal Soriot, Chief Executive Officer, commenting on the results said:

“I’m pleased with our continued progress as we focus on executing our plans across our growth platforms and pipeline. While we have more work to do on the submission of saxagliptin/dapagliflozin combination in Diabetes, the significant label update for Brilinta was accompanied by submission acceptances and accelerated reviews in cancer, respiratory diseases and lupus. In particular, our exciting Oncology portfolio maintained its momentum with four Priority Review and Fast Track designations as well as supportive data at key congresses.

"Our financial performance in the year to date, including an 8% increase in Core EPS in the third quarter, underpinned today’s upgrade to full-year guidance. 2016 will be a pivotal year in our strategic journey as we face the impact of loss of exclusivity to Crestor in the US. Looking ahead however, the continued performance of our growth platforms and upcoming launches will combine with our increasing focus on costs and cash generation to help offset short-term headwinds and return AstraZeneca to sustainable growth.”

Guidance:

AstraZeneca affirmed FY15 revenue guidance and now sees mid-to-high single-digit percentage increase in EPS growth versus last year. The company was previously looking for low single-digit percent increase versus the prior year.

For earnings history and earnings-related data on AstraZeneca (AZN) click here.

You May Also Be Interested In

• BayCom Corp (BCML) Misses Q1 EPS by 4c
• Provident Financial Services (PFS) Tops Q1 EPS by 3c
• Netflix (NFLX) Tops Q1 EPS by 77c, Offers Guidance