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

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.