AstraZeneca Lifts 2022 Guidance After Swing to 3Q Profit, Higher Sales
10 Novembre 2022 - 08:58AM
Dow Jones News
By Cecilia Butini
AstraZeneca PLC on Thursday lifted its guidance for the full
year after reporting a swing to net profit and higher sales for the
third quarter of the year, which both beat consensus
expectations.
The Anglo-Swedish pharma major swung to pretax profit of $922
million from a pretax loss of $2 billion the year prior, when it
took hits from fair-value adjustments to Alexion inventories after
acquiring the company.
After tax, profit was $1.64 billion compared with a loss of
$1.65 billion the year prior. Analysts had expected the company to
post a net profit of $629 million.
Core earnings per share were $1.67, up 55% from the prior-year
figure, beating analysts' expectations of $1.52.
Revenue rose to $11 billion in the quarter from $9.87 billion
the year prior, beating analysts' expectations of $10.84
billion.
The company raised its outlook on core earnings per share,
saying it expects the metric to increase by a high-20s to low-30s
percentage, up from a previous outlook of growth in the mid-to-high
20s percentage. Total revenue is still expected to increase by a
low-20s percentage as the company had previously forecast.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
November 10, 2022 02:43 ET (07:43 GMT)
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