AstraZeneca Q2 revenue beats estimates; continues heavy R&D investment
Anglo-Swedish drug major AstraZeneca (LSE: AZN) on Thursday posted a 2% rise in second-quarter revenue ahead of estimates as the company continues heavy investment in research and development of new product pipeline.
The UK-based drugmaker reported revenue of $6.31 billion, up 2% at constant currency. Core operating profit excluding special items fell 4% to $1.81 billion. Net profit fell 12% to $697 million.
The company raised its full-year revenue outlook to low single-digit percentage decline, against mid single-digit forecast earlier. Core earnings are still expected to increase at a low single-digit rate. Core earnings per share decreased 8% to $1.21.
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