ARTICLE | Financial News

AstraZeneca reports earnings

July 29, 2011 12:17 AM UTC

AstraZeneca plc (LSE:AZN; NYSE:AZN) reported 2Q11 core EPS of $1.73, missing by $0.07 the Street's estimate of $1.80 and down 5% based on constant exchange rates from $1.79 in 2Q10. However, the pharma raised its 2011 core EPS guidance to $7.05-$7.35 from $6.95-$7.25, due in part to an expected increase in share repurchases. AstraZeneca repurchased $2.2 billion in shares in the first half. The pharma expects to repurchase $4 billion in shares for 2011.

AstraZeneca reported 2Q11 revenues of $8.43 billion, off 2% from 2Q10, based on constant exchanges rates. The company said it lost more than $500 million in revenues due to generic competition. ...