AstraZeneca (NYSE:AZN) reported first quarter 2012 core adjusted earnings of $1.81 per American Depositary Share (ADS), 4 cents below the Zacks Consensus Estimate. Earnings were down 19% (at constant exchange rates [CER]) year over year. Higher tax rate hurt earnings during the quarter.
AstraZeneca’s quarterly revenues fell 11% (at CER) year over year to $7.3 billion, owing to intense generic competition. Revenues were much below the Zacks Consensus Estimate of $7.9 billion.
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