LONDON (dpa-AFX) - British drug major AstraZeneca PLC (AZN, AZN.L) reported Monday lower pre-tax pofit in its second quarter, despite higher revenues.
Looking ahead for fiscal 2026, AstraZeneca continues to expect total revenue to increase by a mid-to-high single-digit percentage, and core earnings per share to increase by a low double-digit percentage.
In the second quarter, profit before tax dropped 11 percent to $2.799 billion from last year's $3.127 billion. Earnings per share, however, grew 2 percent to $1.61 from $1.58 a year ago.
Core earnings per share were $2.63, up 21 percent year-over-year.
EBITDA grew 4 percent from last year to $5.092 billion.
Total revenue went up 6 percent to $15.384 billion from last year's $14.457 billion, with double-digit growth in Oncology and Rare Disease offsetting headwinds from Farxiga US loss of exclusivity and China volume-based procurement. Total revenue increased 5 percent at constant currency rate.
Further, the company announced that interim dividend has been increased by 3 cents from last year to $1.06 per share or 79.5 pence.
Pascal Soriot, Chief Executive Officer, AstraZeneca, said, 'While we are disappointed by the CARDIO-TTRansform outcome, we are on track to deliver our $80bn Total Revenue ambition, which assumes successes and setbacks. We remain confident in the strength of our pipeline and have more than twenty high-value readouts due over the next 18 months. We continue to invest at pace in our transformative technologies, and in our commercial execution to bring our innovative medicines to patients around the globe and drive growth beyond 2030.'
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