Novartis stock rose slightly on Wednesday after the pharmaceutical company reported adjusted earnings of $1.66 per share on $12.96 billion in sales for its second quarter.
On average, analysts polled by FactSet expected Novartis (NVS) to earn $1.56 per share on $12.56 billion in sales. In the year-earlier period, Novartis earned $1.36 a share and reported $11.35 billion in sales.
For the year, the pharmaceutical company still sees mid-single-digit operating profit growth, with sales up in the low- to mid-single digits. Analysts called for adjusted Novartis earnings of $6.31 per share and $5.84 billion in sales.
In premarket trading on the stock market today, Novartis stock rose 1%, signaling a move back above its 50-day line.
https://www.investors.com/news/technology/novartis-stock-novartis-earnings-q2-2021/
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