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| Name | Symbol | Market | Type |
|---|---|---|---|
| AstraZeneca PLC | NYSE:AZN | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 54.17 | 0 | 01:00:00 |
From May 2019 to May 2024
By Denise Roland
AstraZeneca PLC said net income increased in the first quarter even as it plowed heavy investment into the development of a string of new drugs it is betting on for future growth, thanks to lower amortization charges.
The Cambridge, U.K.-based drug maker said net income increased 17% to $646 million, from $550 million a year earlier. Revenue increased 1% to $6.12 billion, from $6.06 billion a year ago. Both beat estimates: analysts had expected net income of $494 million and revenue of $5.93 billion.
Core operating profit, a measure which strips out one-time gains and impairments, fell 12% to $1.6 billion, from $1.8 billion last year. Astra said that was partly due to increased investment in research, which climbed 15% to $1.4 billion in the first quarter.
Write to Denise Roland at denise.roland@wsj.com
(END) Dow Jones Newswires
April 29, 2016 02:37 ET (06:37 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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