BASEL, Switzerland (AP) — BASEL, Switzerland (AP) — Novartis AG (NVS) on Tuesday reported first-quarter profit of $2.29 billion.
On a per-share basis, the Basel, Switzerland-based company said it had net income of $1.08. Earnings, adjusted for non-recurring costs, were $1.71 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The drugmaker posted revenue of $12.95 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $12.52 billion.
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