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AstraZeneca Q1 Profit Surges On Strong Sales; Backs FY19 Forecast - Quick Facts

British drug major AstraZeneca Plc (AZN.L,AZN) reported Friday that its first-quarter pre-tax profit surged to $758 million from last year's $374 million. Profit after tax climbed 78 percent to $563 million from last year's $316 million. Earnings per share grew 75 percent to $0.47 from $0.27 a year earlier.

Core earnings per share were $0.89.

The operating margin increased seven percentage points to 20% and the Core operating margin increased 13 percentage points to 30%.

Total revenue increased 6 percent to $5.49 billion from $4.99 billion last year. Revenues grew 11 percent at constant currency rates.

Product Sales increased 10% on a reported basis and 14% at constant rates to $5.47 billion.

The company noted that emerging markets, its largest sales region, recorded 14% sales growth with strong growth in all of its sub-regions, including China at 21%.

US sales increased 20%, while Europe sales declined 12%. Japan sales increased 26% to $501 million.

Further, the company reiterated its fiscal 2019 guidance. For the year, the company continues to project core earnings per share of $3.50 to $3.70. In fiscal 2018, core earnings per share were $3.46.

Product sales are still expected to increase a high single-digit percentage at CER.

Core Operating Profit is anticipated to increase, ahead of Product Sales, by a mid-teens percentage.

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