(Sharecast News) - GlaxoSmithKline shares advanced on Wednesday following the group's better-than-expected third quarter results and upwardly revised financial guidance for the year.
For the three months ending on 30 September, and at constant exchange rates, the UK drug giant posted a roughly 11% rise in its top line to reach £9.4bn (consensus: £9.05bn).
Growth was led by the firm's consumer healthcare unit with a CER jump of 25.0% in sales to £2.5bn, with revenues from vaccines up by 15% to £2.3bn and in pharmaceuticals by 3% to £4.5bn.
In parallel, total operating profit was up by 3% to £2.15bn for earnings per share of 31.4p, which was up 9% at actual exchange rates, and adjusted EPS of 38.6p.
Also at AER, free cash flow was 25% higher to £1.94bn.
Regarding the outlook, GSK guided towards full-year 2019 EPS about flat versus a year ago, instead of the -3.0-5.0% declined previously anticipated.
The quarterly dividend was set at 19.0p and management reiterated guidance for a full-year payout of 80.0p.
Shares of GSK ended the session ahead by 2.31% to 1,780.0p.
Glaxosmithkline (GSK)2 May 2024 19:57
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