AstraZeneca Rises Amid Strong Performance in Tough Quarter By Investing.com

By Christiana Sciaudone

Investing.com —  AstraZeneca (NASDAQ:AZN)’s American Depository Receipts rose 4% after handily beating expectations for its first quarter.

Earnings per share of $1.63 on sales of $7.32 billion beat estimates of 68 cents and $7.03 billion, respectively.  

Sales grew 15% and the company reiterated guidance for the full year, despite  restrictions in Europe against the use of its Covid-19 vaccine amid incidents of blood clots.  

Vaccine “shipments are increasing as manufacturing improves,” Chief Executive Officer Pascal Soriot said during a media briefing, according to StreetInsider.

The company made $275 million from 68 million doses, and the company is on track to deliver 200 million doses each month.

Citigroup (NYSE:C) noted that the company’s core business continues to perform above market expectations in a challenging quarter. 

Shares are down about 6% from a year ago.