AstraZeneca Q2 earnings beat forecasts, oncology sales rise

AstraZeneca reported stronger-than-expected second-quarter earnings on Monday, July 27, 2026, driven by robust demand for its cancer treatments, and reaffirmed its full-year and long-term financial targets despite recent setbacks in its drug development pipeline.

The pharmaceutical giant reported core earnings per share of $2.63 for the quarter ended June 30, an 18% increase at constant currency rates and above the average analyst estimate of $2.48. Total revenue reached $15.38 billion, a 5% increase compared to the same period last year, essentially matching the consensus estimate of $15.39 billion. The company's oncology division was the primary growth driver, with revenue rising 15% at constant currency to $14.12 billion for the first half of the year, accounting for nearly half of total sales. This growth helped offset declines in other therapeutic areas, including cardiovascular, renal, and metabolism drugs.

Chief Executive Pascal Soriot moved to reassure investors following two recent clinical trial disappointments. Earlier in July, a late-stage study for the drug Wainua, targeting a heart condition, failed to meet its primary endpoint. Separately, the company disclosed...