GSK tops third-quarter estimates as new medicines drive growth, keeps outlook
GSK•GSK beat third-quarter expectations, with core earnings of 54.6 pence per share and revenue up 5% to £8.89 billion. It maintained its annual and long-term targets.
1. Quarterly results
GSK’s core profit for the three months ended September 30 was 54.6 pence per share, above analysts’ 50.4-pence consensus. Revenue rose 5% at constant-currency rates to £8.89 billion, compared with expectations of £8.84 billion.
2. Outlook maintained
The company continues to expect turnover growth in the upper half of its 3%-5% forecast range and core earnings-per-share growth in the lower half of its 7%-9% range. GSK said research and development spending is expected to grow faster than sales and recorded a £328 million charge related to its savings drive.
