Novartis: Q4 Earnings Snapshot
By AP News
Published - Jan 31, 2024, 05:18 AM ET
Last Updated - Jan 31, 2024, 05:18 AM EST
BASEL, Switzerland (AP) — BASEL, Switzerland (AP) — Novartis AG (NVS) on Wednesday reported fourth-quarter profit of $8.48 billion.
The Basel, Switzerland-based company said it had profit of $4.14 per share. Earnings, adjusted to account for discontinued operations, came to $1.53 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.
The drugmaker posted revenue of $11.42 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $11.69 billion.
