The FINANCIAL — AstraZeneca PLC reported third-quarter profit before tax of $931 million, compared to $322 million in the comparable quarter last year. Prior year figures are restated, according to Nasdaq.
Profit attributable to owners of the parent was $770 million, up from 254 million in the prior year. Earnings per share rose to $0.60 from $0.20 last year.
Core earnings per share were $1.03, down from $1.05 in the prior year period. On average, analysts polled by Thomson Reuters expected the company to report profit per share of $0.77 for the quarter. Analysts’ estimates typically exclude special items.
Product sales were $5.85 billion, compared to $6.54 billion in the prior year. Analysts expected revenue of $5.90 billion for the quarter. Total revenue decreased to $5.95 billion from $6.61 billion last year.
The company said its board has decided that no share repurchases will take place in fiscal 2015 in order to maintain the strategic flexibility to invest in the business. Looking ahead, the company raised its fiscal 2015. The company now expects total revenue to be in line with the prior year and core earnings per share to increase a mid to high single-digit percent from the prior year.
Earlier, the company forecast fiscal year 2015 total revenue to decline by low single-digit percent from the prior year and core earnings per share to increase by low single-digit percent.
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