AstraZeneca Q2 Revenue Beats Estimates, Driven by Strong Demand in Oncology and Rare Disease Therapies

Gelonghui July 25 | AstraZeneca announced its Q2 results, with revenue reaching $12.94 billion, up 17% year-over-year at constant exchange rates, surpassing the market estimate of $12.56 billion; core earnings per share were $1.98, down 3% year-over-year at constant exchange rates, but higher than the expected $1.95.

Among these, product sales reached $12.45 billion, a year-on-year increase of 18% at constant exchange rates, surpassing the market forecast of $11.93 billion. Oncology business sales grew by 19% to reach $5.33 billion, accounting for 41% of total sales, while other divisions such as rare diseases, respiratory, and immunology also achieved double-digit growth.

The interim dividend increased by 7 cents to 1 dollar. The company raised its guidance for the 2024 fiscal year, with total revenue and core earnings per share expected to grow by approximately 15%.