Takeda Pharmaceutical Reports Rise in First-Quarter Net Profit on Higher Revenue
By Kosaku Narioka
Takeda Pharmaceutical reported a rise in first-quarter net profit on higher revenue.
The Japanese drugmaker said Wednesday that net profit rose 6.5% from a year earlier to 95.25 billion yen ($623.4 million) for the three months ended June 30. That exceeded the estimate of Y53.24 billion in a poll of analysts by data provider Quick.
First-quarter revenue expanded 14% from a year earlier to Y1.208 trillion.
Takeda kept its earnings forecasts unchanged for the fiscal year ending March 2025.
The company continues to expect revenue to rise 2.0% to Y4.350 trillion and for net profit to fall 60% to Y58.00 billion this fiscal year.
Takeda said in May that it expected to book Y140.0 billion in restructuring expenses this fiscal year under a new initiative aiming for growth and cost cuts.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
July 31, 2024 02:29 ET (06:29 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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