AstraZeneca: lackluster results matter less than upcoming trial outcome

Shares in AstraZeneca (LSE: AZN) fell around 1.5% this morning as the company provided cautious 2017 guidance as part of its full year and fourth quarter financial results statement.

For the fourth quarter, revenues were down 13% from the same period in 2015 at $5.6 billion, net (generally accepted accounting principles: GAAP) profits stood at $1.8 billion and the earnings per share (EPS) figure was $1.46.

For the year as a whole, revenues were down 7% at $23 billion. EPS increased 24% to $2.77, reflecting in part a revaluation of acquisition-related liabilities. Net profits for the year were $3.5 billion.