AstraZeneca PLC (AZN) shares rose around 1.6% in early trading on Monday after the company reported second-quarter 2026 results that topped earnings expectations, helped by strong growth in oncology sales.

Total revenue for the quarter was $15.38 billion, up from $14.46 billion in the same period a year earlier. The result represented a 5% increase at constant currency and was broadly in line with analyst expectations of $15.39 billion. Constant-currency figures are closely watched for global drugmakers because they strip out the impact of exchange-rate swings across major markets.

The stronger beat came on earnings. Core earnings per share were $2.63, an 18% increase at constant currency, compared with the analyst consensus estimate of $2.48. Net profit rose to $2.51 billion from $2.45 billion a year earlier.

🚨 $AZN (AstraZeneca) Q2 2026 Earnings Beat expectations… but pipeline concerns after trial failure are the real story 👀

________________________________________ 📊 KEY METRICS (Q2 2026) 🔹 Core EPS: $2.63 (+18% YoY) 🟢 🔹 Consensus EPS: $2.48 → beat 🔹…

— Emmanuel – Big Tech & AI Investor (@EmmanuelInvest) July 27, 2026

Oncology was the main driver of the quarter. Revenue from AstraZeneca’s cancer treatments increased 15% at constant currency, offsetting declines across the company’s cardiovascular, renal and metabolism franchise, as well as its infectious disease business. The performance underscores the importance of cancer medicines to AstraZeneca’s current growth profile as investors weigh commercial momentum against clinical-development risk.

Pipeline setbacks draw attention

AstraZeneca’s clinical trial pipeline has remained in focus after several recent developments. Earlier this month, a late-stage trial of Wainua as a treatment for a heart condition missed its primary endpoint, pressuring the stock.

Over the weekend, the company disclosed another late-stage setback. A study of its rare-disease drug Ultomiris failed to meet its primary goal in patients with a life-threatening complication from stem-cell transplants.

At the same time, AstraZeneca also reported a successful late-stage trial result in gastric cancer. Late-stage results are particularly important for large pharmaceutical companies because they can determine whether potential new uses or medicines move toward regulatory submissions, while failures can narrow future revenue opportunities.

Chief Executive Officer Pascal Soriot sought to emphasize the company’s broader pipeline. “We remain confident in the strength of our pipeline and have more than twenty high-value readouts due over the next 18 months,” he said.

Guidance and 2030 target reaffirmed

Despite the recent trial setbacks, AstraZeneca maintained its outlook. The company continues to expect 2026 core EPS to grow by a low double-digit percentage at constant currency, while total revenue is expected to rise at a mid-to-high single-digit rate.

AstraZeneca also reaffirmed its target of reaching $80 billion in annual revenue by 2030, a goal it set in 2024. JPMorgan analysts said Monday that they believe the company remains on track to achieve that target.

AZN shares have more than quadrupled since Soriot became chief executive 14 years ago. However, the stock is down roughly 8% so far in 2026 and has lagged rival GSK.

Two additional late-stage study readouts expected in the coming months are being watched as further tests of the company’s pipeline.