UPDATE: Sanofi Posts Upbeat Q2 Earnings, Lifts Profit Outlook

Sanofi

reported upbeat second-quarter earnings and lifted its profit guidance for the full year. The Paris, France-based company's quarterly business net income surged 3.9% to 1.54 billion euros, or 1.17 euros per share. Its sales came in at 8.08 billion in the quarter. However, analysts were projecting earnings of 1.14 euros per share on sales of 8.1 billion. For the year, Sanofi now projects business EPS to rise 6% to 8% at constant exchange rates, versus its earlier forecast for 4% to 7% growth. Sales in emerging markets climbed 16.5% at constant exchange rates, while sales in the US jumped 9.4%. Western Europe sales declined 2.8% in the period. Sanofi's sales of Lantus climbed 16.3% over the quarter to 1.56 billion euros. Sanofi shares gained 2.15% to $53.30 in pre-market trading.