COVID-portfolio contribution, sales of cancer drugs in focus for AZN's Q1 earnings
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AstraZeneca (NASDAQ:AZN) is scheduled to announce Q1 earnings results on Friday, April 29th, before market open.
The consensus EPS Estimate is $1.13 (-30.7% Y/Y) and the consensus Revenue Estimate is $10.96B (+49.7% Y/Y).
Over the last 2 years, AZN has beaten EPS estimates 88% of the time and has beaten revenue estimates 88% of the time.
Over the last 3 months, EPS estimates have seen 0 upward revisions and 0 downward. Revenue estimates have seen 2 upward revisions and 0 downward.

U.S.-listed shares of the British drugmaker gained as much as 5.2% in early February after it reported Q4 2021 earnings that beat expectations and said its FY 2021 total revenue increased 41% Y/Y to $37.42B.
AZN had guided total revenue for FY 2022 to increase by a high teens percentage. The consensus revenue estimate for 2022 is $43.72B, which would be a 16.8% increase over 2021. AZN had also guided a mid-to-high twenties percentage increase in non-GAAP EPS for FY 2022.
Investors will be looking out for the contribution from AZN's COVID-19 portfolio to Q1 revenue, which likely got a boost in January when the Omicron variant was rampant, but then fell over the next two months as COVID-19 cases, deaths and hospitalizations fell significantly from January levels.
Earlier this month, data analytics firm Airfinity said that the demand for COVID-19 vaccines has dropped by more than half from January to March this year amid a fall in the Omicron wave, reluctance for repeated vaccination in richer nations and vaccine hesitancy in poorer countries. 
AZN had said total revenue from COVID medicines for FY 2022 was expected to decline by a low-to-mid twenties percentage, with an anticipated fall in sales of vaccine Vaxzevria being partially offset by growth in sales of antibody cocktail Evusheld.
According to Zacks research, AZN is likely to report an earnings beat, with its cancer medicines Imfinzi, Lynparza and Tagrisso having driven revenues in Q1. For FY 2021, the three blockbuster drugs brought in total revenue of $2.41B, $2.75B and $5.02B, respectively.
The performance of breast cancer therapy Enhertu will also be in focus. The drug earlier this week got a FDA breakthrough therapy designation for a certain subtype of breast cancer.