CAMBRIDGE, Britain (AP) — CAMBRIDGE, Britain (AP) — Astrazeneca PLC (AZN) on Tuesday reported first-quarter profit of $2.92 billion.
On a per-share basis, the Cambridge, Britain-based company said it had profit of 93 cents. Earnings, adjusted for non-recurring costs, came to $1.24 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The pharmaceutical posted revenue of $13.59 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $13.68 billion.
Astrazeneca shares have increased nearly 7% since the beginning of the year. The stock has dropped 7% in the last 12 months.
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