AstraZeneca beats Q2 profit and revenue estimates
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AstraZeneca on Friday (Jul 29) topped analyst expectations for second-quarter profit and revenue, helped by higher demand for its cancer medicines.
Core earnings came in at US$1.72 per share for the three months ended June 30, on revenue of about US$10.8 billion.
Analysts on average were expecting profit of US$1.56 per share on revenue of around US$10.5 billion, Refinitiv data showed.
The London-listed company also raised its full-year revenue guidance, saying it expects it to rise by a percentage in the low twenties rather than the high teens forecast previously.
On Friday, the company also revealed the replacement for non-executive chairman Leif Johansson - Michel Demaré will take over once Johansson retires next year. Demaré currently serves as the chair of AstraZeneca’s remuneration committee.
Johansson became chairman in 2012, around the same time Frenchman Pascal Soriot took charge as chief executive. REUTERS
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