Novartis AG reports results for the quarter ended June 30 - Earnings Summary

• Novartis AG NOVN reported quarterly adjusted earnings of $2.42​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $1.97. The mean expectation of nine analysts for the quarter was for earnings of $2.37 per share. Wall Street expected results to range from $2.21 to $2.44 per share.

• Revenue rose 12.3% to $14.05 billion from a year ago; analysts expected $14.18 billion.

• Novartis AG's reported EPS for the quarter was $2.06​.

• The company reported quarterly net income of $4.02 billion.

• Novartis AG shares had fallen by 1.1% this quarter and gained 7.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 3.9% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy," 14 "hold" and 4 "sell" or "strong sell." The average consensus recommendation for the pharmaceuticals peer group is "buy."

• Wall Street's median 12-month price target for Novartis AG is CHF105.00, about 9.4% above its last closing price of CHF95.12

This summary was machine generated from LSEG data July 17 at 10:32 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)