AstraZeneca’s revenue jumps 11% in the fiscal fourth quarter.

In a report on Thursday, AstraZeneca plc (LON: AZN) said its pre-tax profit came in better than last year in the fiscal fourth quarter. The company expressed confidence that its financial performance will remain upbeat in 2021 on the back of core earnings and revenue that also jumped in Q4.  

AstraZeneca shares, that you can learn to buy online here, jumped close to 1.5% in premarket trading on Thursday. Including the price action, the stock is now trading at £73.70 per share versus £62.21 per share in March 2020 when the impact of the COVID-19 crisis was at its peak. It has, however, rebounded from a record high of £93.20 per share in July.

AstraZeneca reports £850 million of pre-tax profit

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AstraZeneca reported £850 million of pre-tax profit in the fourth quarter versus a sharply lower £173.60 million in the same period last year. Its core earnings on a per-share basis climbed to 77 pence in Q4 versus the year-ago figure of 64.38 pence.

According to FactSet, experts had anticipated an even higher 80 pence of core earnings per share for the pharmaceutical giant in the recent quarter. AstraZeneca valued its revenue at £5.36 billion in the fourth quarter, that represents an 11% annualised growth. Analysts, on the other hand, had called for a lower £5.15 billion.

AstraZeneca performed slightly downbeat in the stock market last year with an annual decline of roughly 3.5%. At the time of writing, it is valued at £97.19 billion and has a price to earnings ratio of 53.76.

AstraZeneca’s forecast for 2021

For 2021, The FTSE 100 listed firm now forecasts close to 15% growth in its total revenue. Full-year core earnings per share, AstraZeneca added, are likely to print at £3.62 (constant exchange rates). In separate news from the United Kingdom, Royal Dutch Shell said it aims to double power sales by 2030.

The forecast, as per the British-Swedish multinational, doesn’t account for a hit to its annual profit or revenue due to the COVID-19 vaccine. It also excludes Alexion Pharmaceuticals acquisition that is scheduled to close in Q3.

AstraZeneca’s board declared £1.37 per share of dividend on Thursday. Its total dividend now stands at £2.03 per share – same as last year. The Cambridge-based company completed the sale of commercial rights to its Atacand drug for £294 million in the first week of January.