AstraZeneca results: 9M and Q3 2025
Continued strong commercial performance and unprecedented pipeline delivery in the year to date
Revenue and EPS summary
| 9M 2025 | % Change | Q3 2025 | % Change | |||
| $m | Actual | CER | $m | Actual | CER | |
| – Product Sales | 41,035 | 9 | 9 | 14,365 | 11 | 9 |
| – Alliance Revenue | 2,108 | 41 | 41 | 815 | 46 | 44 |
| Product Revenue | 43,143 | 10 | 11 | 15,180 | 12 | 11 |
| Collaboration Revenue | 93 | (14) | (15) | 11 | (81) | (82) |
| Total Revenue | 43,236 | 10 | 11 | 15,191 | 12 | 10 |
| Reported EPS ($) | 5.10 | 43 | 42 | 1.64 | 77 | 70 |
| Core EPS ($) | 7.04 | 15 | 15 | 2.38 | 14 | 12 |
Key performance elements for 9M 2025
(Growth numbers at constant exchange rates)
* Total Revenue up 11% to $43,236m, driven by growth in all Therapy Areas, including 16% growth in Oncology and 13% growth in R&I
* Growth in Total Revenue across all major geographic regions
* Core Operating profit increased 13%
* Core EPS increased 15% to $7.04
* 16 positive Phase III readouts and 31 approvals in major regions
Pascal Soriot, Chief Executive Officer, AstraZeneca, said:
“The strong underlying momentum across our business through the first nine months of the year sets us up well to sustain growth through 2026 and has us on track to deliver our 2030 ambition.
Across our pipeline we have announced an unprecedented 16 positive Phase III trials this year, with four since our previous results including high-impact readouts for baxdrostat in hypertension and Enhertu and Datroway in breast cancer.
We are also delivering on our strategy to strengthen our operations in the United States to power our growth. This includes a historic agreement with the US government to lower the cost of medicines for American patients, and broadening our US manufacturing footprint having broken ground at our new $4.5bn Virginia manufacturing facility in October.”
Guidance
AstraZeneca reiterates its Total Revenue and Core EPS guidance for FY 2025 at CER, based on the average foreign exchange rates through 2024.
Total Revenue is expected to increase by a high single-digit percentage
Core EPS is expected to increase by a low double-digit percentage
The Core Tax rate is expected to be between 18-22%
If foreign exchange rates for October 2025 to December 2025 were to remain at the average rates seen in September 2025, it is anticipated that FY 2025 Total Revenue growth and Core EPS growth would be broadly similar to the growth at CER (unchanged from the previous guidance).
http://www.rns-pdf.londonstockexchange.com/rns/3923G_1-2025-11-5.pdf