Novartis posts strong third quarter results and raises guidance

Swiss giant Novartis (NOVN: VX) has released an upbeat financial results statement for the third quarter of 2018, with a 3% rise in revenues to $12.8 billion, roughly in line with analysts’ expectations.

Following Generally Accepted Accounting Principles (GAAP), the earnings per share figure came in at $0.70, based on net income of $1.6 billion.

The firm raised its full year guidance, stating it now expects sales to grow in the mid-single-digit percentage range, with operating profit also higher, in the mid-to-high-single-digit percentage range.