Here’s why the AstraZeneca share price dipped 3.7% in the FTSE 100 today
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The share price of the FTSE 100‘s largest company — AstraZeneca (LSE: AZN) — fell 3.7% today (29 April). This came after the pharma behemoth reported its Q1 results.
What didn’t investors like? Let’s take a look.
A miss on the top line
AstraZeneca’s year-on-year revenue rose 7.2% — or 10% at constant exchange rates (CER) — to $13.6bn. Its oncology segment, accounting for 42% of sales, grew 10% (13% CER) to $5.6bn, driven by strong performances from drugs Imfinzi (lung and bladder cancer) and Enhertu (breast and lung cancer).
While this appears to be solid stuff, analysts had expected the top-line figure to be $13.8bn. So, there was a revenue miss, albeit a small…
