Novartis misses estimates with revenue at $12.77B in Q4

Tuesday, 26. January 2021 07:07

Novartis announced on Tuesday that its net sales in the fourth quarter of 2020 stood at $12.77 billion, rising 3% compared to the same period a year earlier but coming in slightly below market estimates. Earnings per share (EPS) surged 84% year on year to $0.92 and net income rallied 86% to $2.1 billion.

Core EPS rose 2% to $1.34 year-on-year and core net income was up 2% to $3 billion in the three month period. Operating income soared 45% to $2.6 billion, while core operating income rose 1% to $3.5 billion.

For full-year 2020, the company's net sales were up 3% to $48.66 billion and net income climbed 13% to $8.07 billion or $$3.55 per share. "Novartis delivered a solid performance in 2020 across our strategic priorities, despite the challenges of COVID-19. Operationally, we grew sales and continued to improve core operating margins for Innovative Medicines," CEO Vas Narasimhan stated.

Related Links: Novartis AG
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Breaking the News / NP