AstraZeneca stock rose about 1.6% in early Monday trading following the release of its second-quarter earnings, which surpassed expectations.
The company reported total revenue of $15.38 billion for Q2 2026, marking a 5% increase at constant currency compared to $14.46 billion a year earlier. This was nearly in line with analyst estimates of $15.39 billion.
Core earnings per share outperformed forecasts, rising 18% to $2.63, above the consensus estimate of $2.48. Net profit increased slightly to $2.51 billion from $2.45 billion in the same quarter last year.
Strong growth in oncology sales drove the results, with cancer treatment revenues up 15% at constant currency. This growth helped offset declines in AstraZeneca’s cardiovascular, renal, metabolism, and infectious disease divisions.
However, AstraZeneca faced setbacks on its clinical pipeline. Earlier in July, a late-stage trial for the heart condition drug Wainua failed to meet its primary endpoint, unsettling investors. The company disclosed another disappointment over the weekend when a rare-disease medication, Ultomiris, did not achieve the main goal in patients with serious complications from stem-cell transplants.
On the upside, a late-stage gastric cancer study reported positive results during the same period.
CEO Pascal Soriot reassured shareholders, emphasizing confidence in the company’s development pipeline, which includes over twenty significant trial readouts expected within the next 18 months.
AstraZeneca confirmed its 2030 ambition of reaching $80 billion in annual revenue, a target set in 2024. The company anticipates low double-digit growth in core EPS and mid-to-high single-digit revenue gains for 2026.
Despite the price quadrupling since Soriot became CEO 14 years ago, AZN shares have declined around 8% in 2026, underperforming competitor GSK. Upcoming data from two additional late-stage studies will be closely watched as indicators of the company’s future momentum.
