2023-07-28 02:19:52 ET
- AstraZeneca press release ( NASDAQ: AZN ): Q2 Non-GAAP EPS of $2.15 beats by $1.18 .
- Revenue of $11.42B (+6.0% Y/Y) beats by $400M .
- Excluding COVID-19 medicines, Q2 2023 Total Revenue increased by 14% (17% at CER).
- Core SG&A-to-Total Revenue ratio of 29% (Q2 2022: 29%).
- Reiterating guidance for FY 2023 Total Revenue and Core EPS : Total Revenue is expected to increase by a low-to-mid single-digit percentage. Excluding COVID-19 medicines, Total Revenue is expected to increase by a low double-digit percentage. Core EPS is expected to increase by a high single-digit to low double-digit percentage.
- Total Revenue from COVID-19 medicines (Vaxzevria17 and COVID-19 mAbs18) is expected to decline significantly in FY 2023 .
- Total Revenue from China is expected to return to growth and increase by a low-to-mid single-digit (previously low single-digit) percentage in FY 2023.
- Alliance Revenue and Collaboration Revenue are both expected to increase19, driven by continued growth of our partnered medicines and success-based milestones.
- Core Operating expenses are expected to increase by a low-to-mid single-digit percentage, driven by investment in recent launches and the ungating of new trials following pipeline success.
- The Core Tax Rate is expected to be between 18-22%.
For further details see:
AstraZeneca beats Q2 top and bottom line estimates; reaffirms FY23 outlook