Sanofi Trades Higher On Q2 Earnings Beat

Sanofi (NYSE:SNY) shares are trading higher after the company reported better-than-expected second-quarter earnings.

The company reported quarterly earnings of $1.47 per share, which beat the analyst consensus estimate of 74 cents. This is a 0.68% increase over earnings of $1.46 per share from the same period last year.

Sanofi reported quarterly sales of $9.663 billion, which beat the analyst consensus estimate of $9.4 billion. This is a 1.01% increase over sales of $9.566 billion the same period last year.

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"Sanofi continued its growth phase with a solid business performance in the second quarter, led by the strong launch of Dupixent driven by the accelerated uptake in atopic dermatitis and asthma in the U.S. Specialty Care and Vaccines were significant contributors across all geographies,” said Sanofi CEO Olivier Brandicourt. “Our increased focus in R&D delivered important results with several positive data read-outs and the achievement of regulatory milestones. We are confident in the growth outlook for the year. Consequently, we have revised upward our guidance for full-year business EPS growth to approximately 5%."

Sanofi shares were trading up 2.74% at $43.52 in Monday’s pre-market session. The stock has a 52-week high of $45.62 and a 52-week low of $40.19.