AstraZeneca PLC said third-quarter 2019 earnings grew year over year and raised 2019 sales guidance for a second consecutive quarter.

The Cambridge, U.K.-based drugmaker reported third-quarter core EPS of 99 cents, up 40% from a year earlier.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $1.02.

On a reported basis, EPS was 23 cents, down 33% from the year-ago quarter.

AstraZeneca's core operating profit increased 43% year over year to $1.88 billion.

Total revenue for the quarter totaled $6.41 billion, up 20% from the prior-year period. Product sales came in at $6.13 billion, a 16% increase from the same year-ago quarter, mainly driven by cancer drugs, biopharmaceuticals and respiratory medicines.

For the first nine months of 2019, AstraZeneca's core EPS rose 39% year over year to $2.61. Core operating profit for the period was $4.89 billion, reflecting a 41% growth from 2018.

Total revenue for the period ended Sept. 30 amounted to $17.72 billion, a 13% year-over-year increase. Meanwhile, product sales for the same period rose 13% on an annual basis to $17.32 billion.

Nine-month reported EPS was 79 cents, a decline of 11% from the year-ago period.

AstraZeneca raised its full-year sales guidance for the second time, citing the strong performance of its new medicines.

The British pharmaceutical company now expects product sales to grow by a low to mid-teens percentage at constant exchange rates, from the previous estimate of low double-digit percentage increase.

AstraZeneca maintains its core EPS guidance of $3.50 to $3.70 for the full year.

The S&P Global Market Intelligence consensus normalized EPS estimate for 2019 is $3.57.