BASEL, Switzerland (AP) — BASEL, Switzerland (AP) — Novartis AG (NVS) on Wednesday reported fourth-quarter profit of $2.41 billion.
On a per-share basis, the Basel, Switzerland-based company said it had net income of $1.25. Earnings, adjusted for non-recurring costs, came to $2.03 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.99 per share.
The drugmaker posted revenue of $13.34 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $13.7 billion.
For the year, the company reported profit of $13.98 billion, or $7.15 per share. Revenue was reported as $54.53 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
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