AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) posted a confident set of third-quarter results, not only beating revenue and core earnings forecasts, but also hailing "strong underlying momentum" across the business to set up growth through next year as well.
The FTSE 100 pharmaceutical group generated revenues of $15.19 billion in the three months to 30 September, up 12% compared to a year ago and beating the consensus forecast of $14.8 billion.
Core earnings per share climbed 14% to $2.38, which was above the expected $2.30.
Total revenue for the first nine months of the year were up 11% to $43.24 billion, supported by growth in all therapy areas, including a 16% rise in oncology and a 13% increase in the respiratory and immunology segment.
Nine-month core EPS has increased 15% to $7.04, while reported EPS is up 42% to $5.10 after a 70% surge in Q3.
Chief executive Pascal Soriot said: “The strong underlying momentum across our business through the first nine months of the year sets us up well to sustain growth through 2026 and has us on track to deliver our 2030 ambition.”
He highlighted progress in late-stage drug development. Across the pipeline, there have been an "unprecedented" 16 positive phase III trials announced this year, with four since the interim results, including baxdrostat in hypertension and Enhertu and Datroway in breast cancer.
Soriot also pointed to continued investment in US operations, alongside the 'most favoured nation' drug pricing agreement with the Trump administration.
The company reiterated its full-year 2025 guidance, with total revenue expected to grow by a high single-digit percentage and core EPS to rise by a low double-digit percentage at constant exchange rates.