AstraZeneca Q1 Profit, Revenues Climb; Backs FY24 Outlook

(RTTNews) - British drug major AstraZeneca Plc. (AZN.L, AZN) reported Thursday that its first-quarter profit before tax grew 24 percent to $2.80 billion from last year's $2.26 billion.

Earnings per share went up 21 percent to $1.41 from $1.16 in the prior year.

Core earnings per share were $2.06, up 7 percent from last year.

Analysts on average expected the company to report earnings of $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Total revenue for the quarter grew 17 percent to $12.68 billion from last year's $10.88 billion. The Street was looking for revenues of $11.83 billion.

Revenues grew 19 percent at constant currency rates, driven by an 18 percent increase in Product Sales and continued growth in Alliance Revenue from partnered medicines.

Further, for fiscal 2024, the company continues to expect both total revenue and Core earnings per share to increase by a low double-digit to low teens percentage.

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