AstraZeneca said Wednesday that it delivered first-quarter profit of $3.08 billion, topping analyst expectations and reinforcing focus on its cancer-drug business. The Cambridge, Britain-based company also reported net income of $1.99 cents per share for the period.
The company said adjusted earnings were $2.58 per share. The AP report cited Zacks Investment Research data showing an average estimate of $2.57 per share from five analysts surveyed by Zacks.
AstraZeneca also reported first-quarter revenue of $15.29 billion. In the same Zacks-cited comparison, four analysts expected revenue of $14.96 billion.
The AP report said AstraZeneca shares had risen nearly 2% since the start of the year. It also said the stock was up 34% over the last 12 months.
The AP story was generated by Automated Insights using data from Zacks Investment Research.