AstraZeneca Turns To Profit In Q3; Lifts FY22 Earnings Growth View

British drug major AstraZeneca PLC (AZN.L) reported Thursday that its third-quarter profit before tax was $922 million, compared to last year's loss of $2.00 billion.

Profit attributable to Owners of the Parent was $1.64 billion, compared to loss of $1.65 billion a year ago. Earnings per share were $1.05, compared to loss of $1.10 a year earlier.

Core earnings per share were $1.67

Total revenue increased 11 percent to $10.98 billion from $9.87 billion. At constant exchange rates, revenue grew 19 percent.

Product sales increased 9 percent to $10.59 billion. At constant exchange rates, revenue grew 16 percent. The growth came from all disease areas, and from the addition of Alexion, which was incorporated into the results from July 21, 2021

Looking ahead for fiscal 2022, core earnings per share at constant exchange rates is now expected to increase by a high twenties to low thirties percentage, higher than previously expected growth in mid-to-high twenties percentage.

Further, the company continues to expect total revenue to increase by a low twenties percentage.

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