Astrazeneca Plc ADR Down 6.76% To $62.10 After Earnings Miss

Thursday, February 8, 2024 - Astrazeneca Plc ADR (AZN) reported downside earnings and revenues today.

Analyst expectations for Astrazeneca Plc ADR earnings per share (EPS) were at $0.79, with the company missing those estimates with a reported EPS of $0.73, leading to a negative surprise of $0.065 per share (-8%). Astrazeneca Plc ADR's earnings rose 5% year-over-year as the firm reported an EPS of $0.69 in its year-ago quarter. The positive annual growth shows the Healthcare company is performing well amid recent economic conditions.

Revenues were downbeat at $12 billion. That is an increase of 7.29% in revenues from the year-ago report and is 0.55% lower than consensus estimates set at $12.1 billion.

The stock is down 6.76% to $62.10 after the report.

Astrazeneca Plc ADR's revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Astrazeneca Plc ADR a Bullish Sentiment Rank from InvestorsObserver.

Astrazeneca Plc ADR has performed a little above average during the past few months. Before the report, Astrazeneca Plc ADR received a Long-Term Technical Rank by InvestorsObserver of 50, putting it in the top half of stocks. The firm set a 52-week low on October 27, 2023 at $61.73 and set a 52-week high on April 25, 2023 at $76.56.

AstraZeneca is a global science-led biopharmaceutical company that focuses on the discovery development and commercialisation of prescription medicines. Our Purpose is to push the boundaries of science to deliver life-changing medicines. We believe the best way we can achieve our Purpose is to put science at the centre of everything we do. Science defines who we are. It is why we come to work every day and is part of our DNA. But this is only half of the story. We know that we do not have all the answers. We want to share ideas because we believe it results in better medicines. We want the way we work to be inclusive open and collaborative. This approach runs through all that we do. We focus on three main therapy areas Oncology Cardiovascular & Metabolic Disease CVMD and Respiratory and we are also selectively active in the areas of autoimmunity neuroscience and infection. To put ourselves in the best position to push the boundaries of science we seek to leverage our combination of capabilities which encompass both small molecules and biologics and include immunotherapies and developing innovative delivery devices that can offer choice to patients. These are reinforced by a strong focus on personalised healthcare capabilities which aim to match medicines only to those patients who will benefit from them. Our teams also work alongside the worlds leading academic and biotech research institutions to stimulate innovation and evaluate emerging technologies such as Modified RNA and CRISPR genome editing. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information visit www.astrazeneca.com.