What caused the sharp rise in operating profit for AstraZeneca in Q3 2023?

The sharp rise in operating profit for AstraZeneca in Q3 2023 can be attributed to Revenue Growth and Cost Management.

1. Revenue Growth: AstraZeneca's total revenue for Q3 2023 was $11.49 billion. Although this was slightly below the expected revenue, it is important to note that the company has shown a history of robust revenue growth in previous quarters. For instance, in Q2 2023, the company's revenue rose by 6% year-over-year to $11.42 billion, surpassing estimates by $400 million. This indicates that AstraZeneca's revenue growth trend is positive, which contributes to the increase in operating profit.

2. Cost Management: The company's ability to manage costs effectively is another key factor contributing to the rise in operating profit. AstraZeneca's net margin for Q3 2023 was 10.73%, which suggests that the company is efficient in managing its expenses relative to its revenue. This, combined with the revenue growth, leads to a higher operating profit.

In conclusion, the sharp rise in operating profit for AstraZeneca in Q3 2023 is primarily driven by revenue growth and effective cost management.