(RTTNews) - British drug major AstraZeneca Plc. (AZN.L, AZN) reported Thursday significantly higher profit in its third quarter with good growth in revenues. Core earnings and top line beat market estimates. Further, the firm maintained positive outlook for fiscal 2025.
Pascal Soriot, Chief Executive Officer, AstraZeneca, said, "The strong underlying momentum across our business through the first nine months of the year sets us up well to sustain growth through 2026 and has us on track to deliver our 2030 ambition."
Looking ahead, AstraZeneca continues to expect fiscal 2025 Core earnings per share to increase by a low double-digit percentage, and total revenue to increase by a high single-digit percentage.
In the third quarter, profit before tax surged 77% to $3.24 billion from last year's $1.83 billion.
Profit attributable to owners of the Parent went up to $2.53 billion from prior year's $1.43 billion. Earnings per share were $1.62, higher than $0.91 a year ago.
Core earnings per share were $2.38.
Total revenue increased 12% to $15.19 billion from $13.57 billion a year ago.
The Wall Street analysts on average expected the company to report earnings of $1.13 per share on revenues of $14.77 billion. Analysts' estimates typically exclude special items.
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