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LONDON - On Wednesday, GlaxoSmithKline plc (NYSE: NYSE:GSK) shares gained 5.65% after the pharmaceutical giant reported fourth quarter revenue that beat analyst estimates, despite earnings falling short of expectations.
GSK posted Q4 revenue of £8.12 billion, falling behind the consensus forecast of £9.86 billion. However, adjusted earnings per share came in at £0.23, below the £0.49 analysts were expecting.
The company’s top-line performance was driven by continued growth in its Specialty Medicines segment, which saw sales increase 17% year-over-year to £3.3 billion. HIV drug sales rose 14% to £1.97 billion, while Oncology revenue jumped 72% to £408 million.
Vaccine sales declined 12% to £2.21 billion, impacted by lower demand for GSK’s RSV vaccine Arexvy compared to its launch year. General Medicines revenue grew 6% to £2.61 billion.
"GSK delivered another year of excellent performance in 2024, with strong sales and core profit growth driven by accelerating momentum of our specialty medicines portfolio," said CEO Emma Walmsley.
For 2025, GSK expects revenue growth of 3-5% and adjusted EPS growth of 6-8%. The company also announced plans for a £2 billion share buyback program over the next 18 months.
Despite the earnings miss, investors cheered the revenue beat and upbeat outlook, sending GSK shares higher in early trading. The stock’s 5.65% gain suggests the market is focusing on the company’s strong sales growth and positive guidance.
GSK will host a conference call at 10:45 am GMT to discuss the results in more detail.
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