According to Dow Jones Newswires, AstraZeneca reported a rise in first-quarter profit on April 27 but said that declining sales of its COVID-19 drugs affected revenue.
AstraZeneca Reports First-Quarter Net Profit of $1.8 Billion, Up from $388 Million a Year Ago, Beating Analysts' Expectations of $1.52 Billion
AstraZeneca reported that its operating profit for the quarter increased from $878 million in the same period last year to $2.55 billion, with core earnings per share rising 6% to $1.92. Total revenue for the quarter fell to $10.88 billion from $11.39 billion a year earlier due to a $1.46 billion decline in sales of COVID-19 medicines. The company stated that excluding the impact of COVID-19 drug sales, total revenue for the quarter grew by 15%, and product sales increased by 16%.