AP NEWS

Novartis: 4Q Earnings Snapshot

January 29, 2020 GMT

BASEL, Switzerland (AP) _ Novartis AG (NVS) on Wednesday reported fourth-quarter net income of $1.13 billion.

On a per-share basis, the Basel, Switzerland-based company said it had profit of 49 cents. Earnings, adjusted for non-recurring costs, came to $1.31 per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.

The drugmaker posted revenue of $12.4 billion in the period.

For the year, the company reported profit of $11.73 billion, or $5.06 per share. Revenue was reported as $47.5 billion.

Novartis shares have risen roughly 1% since the beginning of the year. The stock has risen 12% in the last 12 months.

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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