Financial Performance
AstraZeneca reported its second‑quarter results for the three months ended 30 June 2026, noting that core earnings per share increased 18% year‑on‑year to $2.63, beating the company‑compiled consensus estimate of $2.48. Total revenue rose 5% on a constant‑currency basis to $15.38 billion, marginally below the consensus forecast of $15.39 billion. Operating profit was $3.16 billion and pre‑tax profit $2.8 billion, yielding a core operating margin of 34%.
Guidance and Outlook
The company reaffirmed its 2026 outlook, projecting that core earnings per share will grow by a low double‑digit percentage and that total revenue will expand at a mid‑to‑high‑single‑digit rate. For 2025, AstraZeneca recorded sales and profit growth of approximately 8% and 11% respectively. Management indicated that full‑year 2026 revenue could receive a low single‑digit boost from foreign‑exchange movements if current rates persist, and reiterated its ambition to achieve $80 billion in total revenue by 2030.
Executive Commentary
Chief Executive Officer Pascal Soriot stated, "While we are disappointed by the CARDIO‑TTRansform outcome, we are on track to deliver our $80 bn total revenue ambition, which assumes successes and setbacks. We remain confident in the strength of our pipeline and have more than twenty high‑value readouts due over the next 18 months."
Analyst and Market Reaction
Bank of America reiterated its Buy rating on AstraZeneca, highlighting an attractive valuation of approximately 16× forward 27‑month earnings (c16x 27E P/E). Analysts led by Sachin Jain noted that the mid‑term guidance implies a high single‑digit sales compound annual growth rate and a potential rerating to roughly 18× forward 27‑month earnings (c18x 27E P/E). In London trading, AstraZeneca shares rose about 1% by 08:20 GMT following the release.
Ultomiris Phase III Trial Update
AstraZeneca provided an update on the Phase III trial of Ultomiris in hematopoietic stem‑cell transplantation‑associated thrombotic microangiopathy (HSCT‑TMA). The trial in adults and adolescents did not meet its primary endpoint. In the pediatric cohort, survival was 87.2% at 26 weeks and 73.4% at 52 weeks. The company is advancing regulatory filings for Ultomiris in pediatric HSCT‑TMA, noting that the safety profile across trials remains consistent with its known profile. Ultomiris holds orphan‑drug designation in the United States and Japan for HSCT‑TMA, and the data showed a treatment‑benefit trend in adults and adolescents, with ongoing discussions with regulators.