Q1 26 EPS
$2.58
Q1 26 Revenue
$15.29B
Did AZN Beat Earnings? Q1 2026 Results
AstraZeneca opened 2026 on solid footing, posting Q1 revenue of $15.29 billion, up 13% year-over-year, as double-digit growth across Oncology and Rare Disease gave the British drugmaker meaningful top-line momentum heading into a busy pipeline year. … Read more AstraZeneca opened 2026 on solid footing, posting Q1 revenue of $15.29 billion, up 13% year-over-year, as double-digit growth across Oncology and Rare Disease gave the British drugmaker meaningful top-line momentum heading into a busy pipeline year. Core EPS of $2.58 rose 4%, though a higher Core Tax rate of 21%, compared to 16% a year ago when settlements with tax authorities had flattered the comparison, moderated earnings growth. Reported operating profit climbed 16% to $4.25 billion, underscoring the underlying operational strength even as gross margin edged down one percentage point to 82% on product mix and exclusivity-loss pricing pressures. Analysts had been watching closely heading into the print, and the quarter delivered a pipeline-rich backdrop, with tozorakimab hitting primary endpoints across three COPD trials and Ultomiris opening a new IgAN indication. Management reaffirmed full-year guidance for mid-to-high single-digit revenue growth and low double-digit Core EPS growth at constant exchange rates.
Key Takeaways
- • Double-digit revenue growth in Oncology (up 20%) and Rare Disease (up 19%)
- • Imfinzi revenue grew 34% driven by new GI and GU launches and strong demand across all regions
- • Enhertu revenue grew 40% driven by standard-of-care positioning in HER2+ and HER2-low breast cancer
- • Ultomiris grew 21% on patient demand growth across all indications and conversion from Soliris
- • Strensiq grew 47% driven by continued HPP patient demand and geographic expansion
- • Tezspire grew 40% with launch momentum in severe asthma and CRSwNP
- • Calquence grew 21% driven by BTKi leadership in front-line CLL
- • Truqap grew 50% achieving peak share in second-line biomarker-altered metastatic breast cancer
- • Farxiga grew 14% driven by HF and CKD indications offset by generic competition in some markets
AZN Forward Guidance & Outlook
AstraZeneca reconfirmed FY 2026 guidance at constant exchange rates: Total Revenue is expected to increase by a mid-to-high single-digit percentage, and 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 April-December 2026 remain at March 2026 average rates, Total Revenue would benefit from a low single-digit percentage positive FX impact, and Core EPS growth would be broadly similar to CER growth. Capital expenditure on PP&E and software-related intangible assets is expected to increase by approximately a third in FY 2026, driven by manufacturing expansion projects and investments in systems and technology. The Company intends to increase the annual dividend declared to $3.30 per share in FY 2026.
AZN YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
AZN Revenue by Segment
With YoY comparisons, source: SEC Filings
AZN Revenue by Geography
With YoY comparisons, source: SEC Filings
“We delivered strong growth in Q1 2026, with Total Revenue above $15 billion, demonstrating our consistent commercial execution. We are advancing through our catalyst-rich period, with positive readouts for four high-value Phase III programmes since our last quarterly results, including first pivotal data for two key NMEs - tozorakimab in COPD and efzimfotase alfa in hypophosphatasia.”
— Pascal Soriot, Q1 2026 Earnings Press Release
AZN Earnings Trends
AZN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AZN EPS Trend
Earnings per share: estimate vs actual
AZN Revenue Trend
Quarterly revenue: estimate vs actual
AZN Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $2.58 | — | $15.29B | — |
| Q4 25 FY | — | $2.12 | — | $15.50B | +1.26% |
| FY Full Year | $4.59 | $9.16 | +99.72% | $58.74B | +0.33% |
| Q3 25 FY | — | $2.38 | — | $15.19B | — |
| FY Full Year | $4.59 | — | — | — | — |
| Q1 25 | — | $2.49 | — | $13.59B | — |
| Q4 24 FY | — | $2.09 | — | $14.89B | — |
| FY Full Year | — | $8.21 | — | $54.07B | — |