By Adam Whittaker

AstraZeneca's quarterly revenue beat expectations, boosted by its oncology and biopharmaceuticals segments and strong U.S. demand.

The Anglo-Swedish pharmaceutical giant said Tuesday that for the second quarter, core earnings per share rose to $2.17 from $1.98 in the same period a year prior. Revenue increased to $14.46 billion from $12.94 billion.

Analysts had expected core EPS--the company's preferred metric, which strips out exceptional and other one-off items--of $2.16 on sales of $14.15 billion, according to a company-compiled consensus.

U.S. revenue was up 13% to a record $6.32 billion. The pharmaceutical company is targeting 50% of its total revenue coming from the country by 2030, up from 44% in the second quarter.

Earlier this month, AstraZeneca said it would invest $50 billion in the U.S. by 2030. The plans include a new manufacturing center in Virginia, which will be its largest single manufacturing investment in the world and is in line with its ambition to deliver $80 billion in revenue, the company said.

In its oncology segment, the drugmaker's top business, revenue rose 18% to $6.31 billion after earnings were boosted by sales of its lung cancer drug Tagrisso and its chemotherapy drug Enhertu.

Biopharmaceuticals revenue rose 8% to $5.6 billion.

For 2025, AstraZeneca continues to expect total revenue increasing by a high single-digit percentage. Core EPS is expected to increase by a low double-digit percentage.

AstraZeneca raised its half-year interim dividend 3% to $1.03 a share.

Shares rose 128 pence, or 1.2%, to 109.18 pounds. They are currently up 4.2% over the year to date.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

July 29, 2025 03:53 ET (07:53 GMT)

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