CAMBRIDGE, Britain (AP) — CAMBRIDGE, Britain (AP) — Astrazeneca PLC (AZN) on Friday reported third-quarter profit of $3.12 billion.

On a per-share basis, the Cambridge, Britain-based company said it had net income of $2. Earnings, adjusted for non-recurring costs, were $2.79 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.60 per share.

The pharmaceutical posted revenue of $16.21 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $16.09 billion.

Astrazeneca shares have declined 5% since the beginning of the year. The stock has risen 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AZN at https://www.zacks.com/ap/AZN