AstraZeneca Plc (LON:AZN) releases its first quarter results Friday, though analysts reckon it has been a ‘relatively uneventful’ quarter.
Earlier this week, on Wednesday, big pharma peer GlaxoSmithKline (LON:GSK) revealed its recovery was on-track with its first quarter beating market expectations.
Astra, which already trades at a premium to its peers, is expected by Exane BNP Paribas to report first quarter revenue totalling US$5.9bn and earnings per share of 98 cents - consensus is for US$5.9bn and 94 cents.
“The bulk of the 3-4% increases to our sales and Core EPS forecasts are explained by favourable currency moves,” said Exane analyst Simon Baker.
“Beyond that, we make very minor changes to our estimates apart from increasing net financial expense for 2016.”
The analyst also highlighted that investor attentions would be on the drug pipeline, as that remains important to the investment thesis - though Baker notes that this factor is watched more closely by American investors rather than those in Europe.
Quarterly results: AstraZeneca (LON:AZN), International Consolidated Airlines Group (LON:IAG), Shire Plc (LON:SHP)
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