AstraZeneca Q2 Profit Down, Confirms FY22 Core EPS View, Lifts Revenue Growth Outlook

British drug major AstraZeneca Plc. (AZN.L,AZN) reported Friday that its second-quarter profit before tax was $247 million, down 68 percent from last year's $764 million.

Earnings per share declined 45 percent to $0.23 from $0.42 a year ago.

Core earnings per share were $1.72, up 92 percent from last year.

Total revenue grew 31 percent to $10.77 billion from last year's $8.22 billion. Revenues grew 37 at constant currency rates.

Further, the company declared interim dividend of $0.93 or 76.4 pence per ordinary share, reflecting the Board's intent to increase to $2.90 in fiscal 2022.

Looking ahead, the company updated fiscal 2022 guidance due to strength in its overall business, an updated outlook for COVID-19 medicines, as well as increased investment in R&D to drive long term sustainable growth.

Total revenue for the year is now expected to increase by a low twenties percentage, compared to previous estimate of high teens percentage.

Core earnings per share is still expected to increase by a mid-to-high twenties percentage.

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