GSK stock falls 1.05 percent as Q2 profit drops

GSK stock stood at GBp 1,886.00 on the London Stock Exchange on September 24, 2026, down 1.05 percent. The latest quarterly figures show a sharp split between reported profit and the underlying operating trend.

Turnover grows by 5 percent

According to StockTitan, GSK generated GBP 8.409 billion in turnover in the second quarter of 2026, up 5 percent from GBP 7.986 billion in the second quarter of 2025. For the first half of 2026, turnover reached GBP 16.038 billion, compared with GBP 15.502 billion a year earlier.

The strongest growth came from Specialty Medicines, where Q2 turnover increased 14 percent to GBP 3.782 billion. Vaccines turnover rose 9 percent to GBP 2.284 billion, while General Medicines declined 9 percent to GBP 2.343 billion.

Profit figures show the cost burden

Total operating profit dropped 76 percent year over year to GBP 481 million in Q2 2026, from GBP 2.023 billion. Total earnings per share fell 69 percent to 10.8 pence, while core operating profit increased 6 percent to GBP 2.8 billion and core earnings per share reached 50.5 pence.

The comparison matters because the reported result includes major charges, whereas the core figures indicate continued operating expansion. GSK also reported that its Q2 2026 operating margin was 5.7 percent, compared with a 25.3 percent margin in Q2 2025.

Oncology drives the longer view

GSK is targeting more than GBP 40 billion in sales, above the GBP 36.4 billion consensus estimate, according to Yahoo Finance. The company expects oncology assets and antibody-drug conjugates to support this ambition.

The same report puts annual savings from GSK's simplification program at GBP 1.9 billion. Management expects margins to remain stable or improve from 2028 through 2030, making pipeline execution and cost discipline central to the stock's valuation debate.

Stock slips on September 24

GSK stock stood at GBp 1,886.00 on the LSE on September 24, 2026, a daily decline of 1.05 percent. The market is weighing 5 percent turnover growth and 6 percent core operating profit growth against the 76 percent fall in total operating profit.