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Share Name Share Symbol Market Type Share ISIN Share Description
Glaxosmithkline Plc LSE:GSK London Ordinary Share GB0009252882 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -58.20 -3.88% 1,443.00 1,439.40 1,441.20 1,490.00 1,420.80 1,485.40 17,998,685 16:35:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 33,754.0 6,221.0 93.9 15.4 72,396

GlaxoSmithKline Raises Outlook as 3Q Revenue, Profit Grow

30/10/2019 12:52pm

Dow Jones News


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By Carlo Martuscelli

 

GlaxoSmithKline PLC (GSK.LN) upgraded its guidance on Wednesday after it posted growing profit in the third quarter on revenue that beat market expectations.

The British pharmaceutical company made a pretax profit of 1.95 billion pounds ($2.51 billion) in the third quarter, compared with GBP1.71 billion the year earlier. Turnover increased 16% to GBP9.39 billion, beating analyst forecasts of GBP9.04 billion.

Meanwhile adjusted earnings per share--a metric closely watched by analysts--rose to 38.6 pence from 35.5 pence in the third quarter of 2019.

Glaxo said that it is now sees full-year adjusted EPS flat when accounting for currency effects. Previously, the company guided for a decrease of between 3% to 5%.

It confirmed that it was on track to file a new drug application for its cancer drug Zejula by the end of the year having reported positive data from a clinical trial in September that looked at the medicine as a treatment for ovarian cancer.

The company declared a quarterly dividend of 19 pence a share and confirmed its 80 pence total target for the full-year.

 

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com; @carlomartu

 

(END) Dow Jones Newswires

October 30, 2019 08:37 ET (12:37 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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