AstraZeneca PLC (LON: AZN, NASDAQ: AZN) reported better-than-expected second-quarter earnings as strong growth in oncology and rare diseases helped offset weaker sales in other parts of the business.
Total revenue increased 9% to US$30.7 billion in the first half of 2026, or 6% at constant exchange rates. Core earnings per share rose 12% to US$5.21, while reported earnings increased 4% to US$3.60.
In the second quarter, core earnings per share climbed 21% to US$2.63, ahead of the average City forecast of US$2.48. Revenue rose 6% to US$15.4 billion, broadly in line with expectations.
First-half growth was driven by double-digit gains in oncology and rare diseases. This helped offset the loss of US exclusivity for diabetes treatment Farxiga and pricing pressure from China’s volume-based procurement programme.
AstraZeneca increased its interim dividend by three cents to US$1.06 per share, equivalent to 79.5p.
The group maintained its full-year guidance, with revenue expected to grow by a mid-to-high single-digit percentage and core earnings per share forecast to increase by a low double-digit percentage.
Chief executive Pascal Soriot acknowledged the recent failure of the key CARDIO-TTRansform trial, which contributed to a fall of more than 11% in AstraZeneca’s market value. However, he said the company remained on track to achieve its US$80 billion revenue target, which already assumes both clinical successes and setbacks.
Soriot added that AstraZeneca delivered positive results from six other major Phase III programmes during the first half and secured first approvals in eight major markets.
The company said it remained confident in the strength of its pipeline, with more than 20 high-value clinical readouts expected over the next 18 months.
