AstraZeneca (AZN) Misses Q3 EPS by 9c

AstraZeneca (NYSE: AZN) reported Q3 EPS of $0.76, $0.09 worse than the analyst estimate of $0.85. Revenue for the quarter came in at $6.68 billion versus the consensus estimate of $6.68 billion.

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

“2014 was a remarkable year for AstraZeneca. We achieved a record six product approvals as we accelerated our pipeline across all main therapy areas. Alongside this, we delivered four quarters of revenue growth, with growth platforms now contributing over half of our revenues. Our strong performance in Emerging Markets is a particular highlight, with China becoming our second largest national market, while the delay in the introduction of Nexium generics in the US helped to direct additional investment towards our launch brands and our rapidly advancing pipeline.

“Our guidance for 2015 reflects our focus on creating value by investing in our new brands and exciting pipeline while we continue improving productivity to protect our profitability in the face of patent expiries. With the depth of our science and the momentum we have built across our organisation, we are on track to return to growth by 2017 and are well positioned to deliver our long-term goals.”

2015 Guidance: Sales revenue is expected to decline by mid single-digit percent at CER3. Consistent with its business model, the Company will continue to seek externalisation revenue from partnerships and licensing

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

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