AstraZeneca 1Q Profit Rose, But Decline in Covid-19 Drug Sales Hurt Revenue
27 Abril 2023 - 4:02AM
Dow Jones News
By Cecilia Butini
AstraZeneca PLC on Thursday reported a rise in profit for the
first quarter, but said a decline in sales of its Covid-19
medicines hurt revenue.
The Anglo-Swedish pharma giant posted net profit of $1.80
billion for the period, up from $388 million the year prior, and
beating analysts' expectations of $1.52 billion.
Operating profit rose to $2.55 billion from $878 million the
year prior, and core earnings per share rose 6% to $1.92,
AstraZeneca said. Total revenue for the quarter declined to $10.88
billion from $11.39 billion in the same quarter of 2022, due to a
decline of $1.46 billion in sales of Covid-19 medicines. Excluding
Covid-19 medicines, total revenue increased by 15% and product
sales increased by 16%, it said.
The company backed its guidance for 2023 at constant exchange
rates, saying it expects total revenue to increase by a low-to-mid
single-digit percentage.
Excluding Covid-19 medicines, total revenue is expected to
increase by a low double-digit percentage, and core EPS is expected
to increase by a high single-digit to low double-digit percentage,
the company said.
Revenue from Covid-19 medicines, including its vaccine, is
expected to decline significantly in 2023, AstraZeneca said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
April 27, 2023 02:47 ET (06:47 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
AstraZeneca (NASDAQ:AZN)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
AstraZeneca (NASDAQ:AZN)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024
