AstraZeneca (AZN) Posts Q2 EPS of $0.38; Reiterates Outlook

AstraZeneca (NYSE: AZN) reported Q2 EPS of $0.38 and core EPS of $0.87 versus analyst estimate of $0.42. Revenue for the quarter came in at $5.05 billion versus the consensus estimate of $5.07 billion.

• The residual effects of the Crestor and Seroquel XR loss of exclusivity in the US impacted Product Sales
• Cost discipline continued:
  • Reported R&D costs declined by 5% (1% at CER) to $2,802m
  • Core R&D costs declined by 7% (4% at CER) to $2,617m
  • Reported SG&A costs declined by 17% (15% at CER) to $4,658m
  • Core SG&A costs declined by 12% (9% at CER) to $3,728m
• Reported Other Operating Income and Expense increased by 97% (101% at CER) to $839m; Core Other Operating Income and Expense increased by 105% (108% at CER) to $958m
• Reported EPS increased by 58% (41% at CER) to $0.80; Core EPS increased by 5% (1% at CER) to $1.86
• An unchanged first interim dividend of $0.90 per share
• Financial guidance for 2017 reiterated

For earnings history and earnings-related data on AstraZeneca (AZN) click here.

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