Bloomberg News

Glaxo Reports Third-Quarter Earnings Matching Analyst Estimates

October 26, 2011

Oct. 26 (Bloomberg) -- GlaxoSmithKline Plc, the U.K.’s largest drugmaker, said third-quarter earnings excluding restructuring costs were 28.5 pence a share, matching the average estimate of 17 analysts surveyed by Bloomberg.

Sales rose 4.3 percent to 7.1 billion pounds ($11.4 billion) from 6.81 billion pounds a year earlier, London-based Glaxo said today in a statement. That beat the average analyst estimate of 6.98 billion pounds.

The company increased its dividend by 6 percent to 17 pence, after raising its dividend by 7 percent in each of the first two quarters of this year. That matches a Bloomberg dividend forecast of 17 pence.

Glaxo also expanded its share repurchasing program to as much as 2.3 billion pounds this year from as much as 2 billion pounds.

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To contact the reporter on this story: Makiko Kitamura in London at mkitamura1@bloomberg.net

To contact the editor responsible for this story: Kristen Hallam at khallam@bloomberg.net


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