Novartis: Q3 Earnings Snapshot

BASEL, Switzerland (AP) — BASEL, Switzerland (AP) — Novartis AG (NVS) on Tuesday reported third-quarter profit of $1.2 billion.

On a per-share basis, the Basel, Switzerland-based company said it had net income of 63 cents. Earnings, adjusted for non-recurring costs, came to $2.46 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.25 per share.

The drugmaker posted revenue of $14.52 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $14.56 billion.

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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 NVS at https://www.zacks.com/ap/NVS