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GlaxoSmithKline Reports Strong Operating Profit Despite Posting Huge Operating Loss In 2Q 2016

July 27, 2016: 12:00 AM EST
GlaxoSmithKline reported a $222 million operating loss for the second quarter of 2016. Core results, however, showed the company posting an operating profit of $2.4 billion, with global revenue at $9.2 billion. Favorable changes in currency exchange rates between the UK pound and the U.S. dollar helped improved sales by 7 percent and added 26 percent in value to the company's core earnings, GSK said. Group sales were 6.5 billion pounds, with growth recorded across the company's three main businesses: pharmaceuticals, vaccines, and consumer healthcare.
"GlaxoSmithKline Second quarter 2016", GlaxoSmithKline , July 27, 2016, © GlaxoSmithKline plc
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