BASEL, Switzerland (AP) — BASEL, Switzerland (AP) — Novartis AG (NVS) on Tuesday reported third-quarter net income of $1.76 billion.
On a per-share basis, the Basel, Switzerland-based company said it had net income of 85 cents. Earnings, adjusted for one-time gains and costs, were $1.74 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.
The drugmaker posted revenue of $11.78 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $12.05 billion.
_____
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