AstraZeneca profit up 32% on year on tax gain

AstraZeneca PLC was boosted by a one-off tax windfall in the third quarter, helping offset heavy investment into the drugs it hopes will fuel strong growth.

The drugs giant posted a net profit of $1 billion for the three months to Sept. 30, 32% higher than in the same period a year earlier, while revenue dipped 4% to $5.7 billion. Analysts had expected net income of $731 million and revenue of $5.87 billion.

 Core operating profit, a measure that strips out certain one-time gains and losses, declined 2% to $1.7 billion.

Published: Nov 10, 2016

Source: http://www.marketwatch.com/