GlaxoSmithKline’s Quarterly Revenues
GlaxoSmithKline (GSK) reported a 12.0% rise in revenues to 7.3 billion pounds in 2Q17 compared to 6.5 billion pounds in 2Q16.
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The above chart shows the revenue trend for GSK over the last few quarters and estimates for 3Q17.
For 3Q17, Wall Street analysts estimate revenue growth of 4.7% to 7.9 billion pounds compared to 7.5 billion pounds in 3Q16.
GlaxoSmithKline’s 12.0% rise in 2Q17 revenues to 7.3 billion pounds compared to 2Q16 includes a 3.0% rise in revenues at constant exchange rates and a 9.0% rise due to the favorable impact of foreign exchange.
Growth in 2Q17 was driven by the strong performance of new pharmaceutical products and vaccines across the United States and outside the US markets. Also, the weakening of the sterling pound against all major currencies in 2Q17 resulted in a positive impact of foreign exchange.
The company reports its business in three segments: Pharmaceuticals, Vaccines, and Consumer Healthcare. For 2Q17, all the segments reported positive growth in revenues.
At constant exchange rates, the US markets reported a 5.0% rise in revenues to 2.7 billion pounds. The European markets reported a 2.0% rise in revenues to 2.0 billion pounds, and other international markets reported a 1.0% rise in revenues to 2.6 billion pounds in 2Q17 compared to 2Q16.