AstraZeneca trades flat on the FTSE100 this Thursday, after announcing its results for the third quarter, when the company reported that the net profit from June to September has more than doubled, but that earnings and core income are slightly below analyst expectations, and reiterated its guidance for 2020.
The British pharmaceutical giant has reported that the net profit for the quarter was $ 648 million compared to 299 million in the same period last year.
Basic earnings per share, a closely watched measure that removes exceptional items, fell to $ 0.94, down from expectations of $ 1.01, according to a consensus provided by FactSet and based on estimates from eight analysts.
The Total revenue rose 2.7% to $ 6.58 billion. Analysts expected revenue of $ 6.61 billion, according to a consensus provided by FactSet and based on estimates from 11 analysts.
AstraZeneca said that is on track to meet its year-round guidance. The company said it continues to expect total revenue to grow between a high single-digit percentage and a low double-digit percentage, and for basic EPS to increase between a medium and high percentage. However, he recognized the risks and uncertainties arising from the pandemic.