AstraZeneca's quarterly revenue beat expectations, boosted by its oncology and biopharmaceuticals segments and strong U.S. demand.
The Anglo-Swedish pharmaceutical giant said Tuesday that for the second quarter, core earnings per share rose to $2.17 from $1.98 in the same period a year prior. Revenue increased to $14.46 billion from $12.94 billion.
Analysts had expected core EPS--the company's preferred metric, which strips out exceptional and other one-off items--of $2.16 on sales of $14.15 billion, according to a company-compiled consensus.
U.S. revenue was up 13% to a record $6.32 billion. The pharmaceutical company is targeting 50% of its total revenue coming from the country by 2030, up from 44% in the second quarter.
Earlier this month, AstraZeneca said it would invest $50 billion in the U.S. by 2030. The plans include a new manufacturing center in Virginia, which will be its largest single manufacturing investment in the world and is in line with its ambition to deliver $80 billion in revenue, the company said.
In its oncology segment, the drugmaker's top business, revenue rose 18% to $6.31 billion after earnings were boosted by sales of its lung cancer drug Tagrisso and its chemotherapy drug Enhertu.
Biopharmaceuticals revenue rose 8% to $5.6 billion.
For 2025, AstraZeneca continues to expect total revenue increasing by a high single-digit percentage. Core EPS is expected to increase by a low double-digit percentage.
AstraZeneca raised its half-year interim dividend 3% to $1.03 a share.
Shares rose 128 pence, or 1.2%, to 109.18 pounds. They are currently up 4.2% over the year to date.
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