Astrazeneca tops expectations in the first quarter on strong cancer drug sales
CAMBRIDGE, Britain — Astrazeneca on Wednesday reported first-quarter profit of $3.08 billion.
The Cambridge, Britain-based company said it had net income of $1.99 cents per share. Earnings, adjusted for non-recurring costs, were $2.58 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.57 per share.
The pharmaceutical posted revenue of $15.29 billion in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $14.96 billion.
Astrazeneca shares have increased almost 2% since the beginning of the year. The stock has increased 34% in the last 12 months.
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