GlaxoSmithKline reported Q2 adjusted earnings per share and revenue for Q2 that were higher than Wall Street analysts’ forecasts. EPS was GBP0.27 ($0.36), compared with GBP0.24 a year earlier, topping the GBP0.26 average estimate of analysts provided by Capital IQ.
Revenue climbed 12% to GBP7.32 billion from GBP6.53 billion a year earlier, beating analyst estimates of GBP7.27 billion. The company meanwhile lowered its forecast for adjusted EPS growth to between 3% to 5% on a constant exchange rate basis reflecting impact of using a priority review voucher and investments in its HIV two drug regimen, even as the drugmaker doesn’t expect generic competitors of its Advair asthma drug to come to the market in the US this year. Previously it expected adjusted EPS growth of 5% to 7%.