AstraZeneca Swung to 2Q Net Loss, but Raises Full-Year Revenue Guidance -- Update
29 Julio 2022 - 2:58AM
Noticias Dow Jones
By Ian Walker and Joe Hoppe
AstraZeneca PLC on Friday reported a swing to a second-quarter
net loss after booking a large foreign-exchange charge in its
accounts, but raised its full-year revenue guidance, and said it
has named a new chairman-designate.
The Anglo-Swedish pharmaceutical giant said it now expects to
report a low-20s percentage rise in total revenue for the year, up
from previous guidance of a high-teens percentage. This was due to
strong overall performance and better-than-anticipated Covid-19
medicine revenue, which is now expected to be flat compared with
2021. The company had previously guided for a low-to-mid-20s
percentage fall.
AstraZeneca posted a net loss of $372 million for the quarter,
compared with a net profit of $1.19 billion a year earlier.
Revenue rose to $10.77 billion, from $8.22 billion, with growth
coming from all disease areas and from the addition of the Alexion
acquisition, completed in July 2021. Revenue consensus was $10.45
billion.
The company also said it has appointed Michel Demare as the new
chairman-designate, succeeding nonexecutive Chairman Leif Johansson
after his retirement in April 2023.
Core earnings per share--one of the company's preferred
metrics--rose to $1.72 in the quarter, compared with $0.90 a year
earlier and a consensus of $1.57.
Consensus figures have been taken from FactSet and are based on
16 analysts' projections.
AstraZeneca reiterated that it expects core EPS growth in the
mid-to-high-20s percentage.
The board has increased its interim dividend to $0.93 a share,
compared with $0.90 for the first half of 2021, and said it still
intends to raise the total dividend for the year to $2.90.
Write to Ian Walker at ian.walker@wsj.com and Joe Hoppe at
joseph.hoppe@wsj.com
(END) Dow Jones Newswires
July 29, 2022 03:43 ET (07:43 GMT)
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