Novartis' EPS surpasses estimates at $1.52 in Q3

Tuesday, 27. October 2020 07:06

Novartis International AG released its third-quarter results on Tuesday, saying that its core earnings per share (EPS) annually rose 7.8% to beat the expectations and reach $1.52.

Over the same period, Novartis' net sales (revenue) slightly climbed to $12.26 billion, however, the figure stood under the estimated value. Net income declined 5.3% to land at 1.93 billion. The company said it had a "solid" performance this quarter, with core operating income growth of 8.6%.

"Novartis continues to deliver solid performance with double-digit increases in core operating income and expanding margins, despite the impact of the COVID-19 on healthcare systems. Our key growth drivers and launches are performing well. The strength of Novartis’ underlying operations enables us to upgrade our Full Year 2020 core operating income guidance," Chief Executive Vas Narasimhan stated in the report.

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Breaking the News / ND