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Business Quick Take
AstraZeneca upbeat on profit
AstraZeneca PLC Thursday forecast revenue growth for this year after the COVID-19 vaccine developer beat analysts’ estimates for fourth-quarter product sales, as a wide range of therapies helped cushion the hit from the pandemic. It expects this year’s revenues to increase by a low teens percentage, with “faster growth” in core earnings to US$4.75 to US$5 per share. Quarterly product sales of US$7.01 billion surpassed a company-compiled consensus of US$6.81 billion. The London-listed company said its forecast did not include any impact from its COVID-19 vaccine. BANKING
Commerzbank sees shrinkage
Commerzbank AG said it will probably see revenue shrink “slightly” this year as it embarks on its third restructuring effort in five years under a new leadership. Revenue in the last three months of last year declined 6.6 percent, according to an earnings release yesterday. It recorded a quarterly loss of 2.7 billion euros