GlaxoSmithKline Reported Revenue Growth in 2Q17

GlaxoSmithKline (GSK) reported revenues of 7.32 billion pounds in 2Q17—12% growth compared to revenues of 6.53 billion pounds in 2Q16.

The above chart shows the revenue trend for GlaxoSmithKline in the past few quarters.

GlaxoSmithKline reported revenues of 7,320 million pounds—12% growth in its top line compared its revenues in 2Q16. The growth included 3% growth in operating revenues and 9% growth due to the favorable impact of foreign exchange. The growth was driven by new pharmaceutical products’ strong performance as well as new vaccines across all of the major markets. The positive impact of foreign exchange was due to the pound weakening against all of the major currencies during 2Q17.

The company segregated its business into three business segments—the Pharmaceuticals segment, Vaccines segment, and Consumer Healthcare segment. All of these segments reported revenue growth during 2Q17. We’ll discuss the segment-wise revenue performance in the next part.

US markets reported revenues of 2.72 billion pounds during 2Q17—5% growth in operating revenues compared to 2Q16. US markets contribute more than 37% of GlaxoSmithKline’s total revenues.

European markets reported revenues of 1.97 billion pounds during 2Q17—2% growth in operating revenues compared to 2Q16. European markets contribute more than 26% of GlaxoSmithKline’s total revenues.

Other international markets reported revenues of 2.63 billion pounds during 2Q17—1% growth in operating revenues compared to 2Q16. Other international markets contribute ~36% of the company’s total revenues.

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