Published on 1 Feb 2023 on Zacks via Yahoo Finance
Novartis (NVS) Q4 Earnings Top, Revenues Miss Estimates
Novartis AG NVS reported mixed fourth-quarter results for 2022. Core earnings (excluding one-time charges) of $1.52 per share beat the Zacks Consensus Estimate of $1.42 and our estimate of $1.40 and was also up from $1.40 reported in the year-ago quarter.
However, revenues of $12.7 billion missed the Zacks Consensus Estimate and our estimate of $12.8 billion. Sales were also down 4% from the year-ago quarter. On a constant currency basis, sales were up 3%, driven by momentum in Entresto, Kesimpta, Kisqali and the launch of radioligand therapy, Pluvicto.
Shares of Novartis have gained 5.4% in the past year compared with the industry’s growth of 7.3%.