AstraZeneca earnings for the fourth quarter of 2018 has AZN stock heading higher on Thursday.
AstraZeneca (NYSE:AZN) reported earnings per share of $1.58 for the fourth quarter of the year. This is an increase over the company’s earnings per share of 65 cents from the same time in 2017. It was also a boon to AZN stock by coming in above Wall Street’s earnings per share estimate of 76 cents for the quarter.
AstraZeneca earnings for the fourth quarter of 2018 also has operating income coming in at $1.08 billion. This represents a 54% increase over the company’s operating income from the same period of the year prior.
The AstraZeneca earnings report for the fourth quarter of the year also includes revenue of $6.42 billion. This is 14% higher than the company’s revenue from the fourth quarter of the previous year. It also beats out analysts’ revenue estimate of $6.27 billion for the period, making it a blessing to AZN stock.
The good news for AZN stock continues in the most recent AstraZeneca earnings report with its guidance for 2019. The company says it is expecting earnings per share for the year to range from $3.50 to $3.70. Wall Street is looking for the pharmaceutical company to report revenue of $1.64 for the full year of 2019.
“2019 will be a year of focus on continued pipeline delivery and flawless commercial execution,” Pascal Soriot, CEO of AstraZeneca, said in a statement. “The performance of our new medicines demonstrated the ability of our commercial teams to convert the pipeline into successful medicines.”
AZN stock was up 9% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.