Plus   Neg

Novartis Q4 Net Profit Down, Operating Income Climbs; Sees Growth In FY20

Swiss drug major Novartis AG (NVS) reported Wednesday that its fourth-quarter net income declined 7 percent to $1.13 billion from last year's $1.22 billion. Earnings per share were $0.50, 6 percent lower than $0.53 in the prior year.

Core net income was $2.99 billion, compared to $2.68 billion a year ago. Core earnings per share were $1.32, compared to $1.16 a year ago.

Operating income climbed 34 percent to $1.82 billion.

Net sales grew 8 percent to $12.40 billion from last year's $11.48 billion. Sales grew 9 percent in constant currency.

Looking ahead, for fiscal 2020, the company expects net sales to grow mid to high-single digit and core operating income to grow high-single to low double digit, both in constant currency.

The outlook excludes Alcon and the Sandoz US oral solids and dermatology business from both 2019 and 2020.

Further, the company announced a dividend of 2.95 Swiss francs per share for 2019, an increase of 4 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Lowe's (LOW) is temporarily increasing wages of its employees. The latest move by the hardware retailer is to help its employees cope with the economical effects caused by the ongoing COVID-19 pandemic. The company has hiked salary by $2 per hour for all full-time, part-time, and seasonal hourly associates,... Amazon.com Inc. (AMZN) Founder and CEO Jeff Bezos is donating $100 million to food banks across the U.S. to support poor people who cannot afford food during this coronavirus crisis. Bezos made a $100 million gift to Feeding America, one of the largest U.S. nonprofit focused on food security. Feeding... Facebook on Thursday shared an update on its $100 million small-business grants program announced in March, saying that it will provide $40 million in grants to 10,000 U.S. small businesses that were impacted by the coronavirus pandemic. In March, the social media giant said it is offering $100 million in cash grants and ad credits for up to 30,000 eligible small businesses.
Follow RTT