Novartis Net Profit Falls 57%
January 27 2016 - 2:50AM
Dow Jones News
ZURICH—-Novartis AG said on Wednesday that its fourth-quarter
net profit fell 57% compared with the corresponding period a year
earlier as the Swiss drug giant's eye-care unit dragged on
performance.
Basel-based Novartis said net income fell to $1.05 billion in
the quarter ended in December, compared with $2.45 billion in the
same period a year earlier.
Revenue dipped 4% to $12.52 billion, the company said. Core net
income, which strips out one-time events such as impairments or
gains, fell to $2.7 billion from $2.9 billion a year earlier,
Novartis said.
Analysts had expected revenue of $12.7 billion and core net
income of $2.7 billion.
Write to John Letzing at john.letzing@wsj.com and Denise Roland
at Denise.Roland@wsj.com
(END) Dow Jones Newswires
January 27, 2016 02:35 ET (07:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Novartis (NYSE:NVS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Novartis (NYSE:NVS)
Historical Stock Chart
From Apr 2023 to Apr 2024