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AstraZeneca earnings beat expectations as steady drug sales boost revenues

AstraZeneca earnings beat expectations as steady drug sales boost revenues
Earnings reports
Diya Poddar
Author
Diya P.
Apr 25, 2024, 07:41 AM
  • Total Revenue increased by 19% to $ 12,679 million, driven by an 18% increase in product sales.
  • The total dividend for FY 2024 will increase by $0.20 per share to $3.10 per share.
  • The shares of the company saw an increase of 5.32% reacting positively to the quarterly results.

AstraZeneca plc today, on April 25, announced its earnings report for the first quarter of FY24.

Total Revenue increased by 19% to $ 12,679 million, driven by an 18% increase in product sales and continued growth in Alliance Revenue from partnered medicines.

Core EPS increased 13% to $2.06. The increase in Core EPS was lower than total revenue growth mainly because of a $241m gain in the previous year's period on the disposal of Pulmicort Flexhaler US rights.

The total dividend for FY 2024 will increase by $0.20 per share to $3.10 per share as announced by the company at the Annual General Meeting on 11 April 2024.

The shares of the company saw an increase of 5.32% reacting positively to the quarterly results.

Astra Zeneca’s Chief Executive Officer Pascal Soriot, said:

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