Novartis ups growth guidance for 2019 after strong quarter
Shares in Swiss pharma giant Novartis (NOVN: VX) shot up by 2.5% in Wednesday morning’s trading after the company presented its first quarter financial results.
Net sales for the quarter grew 7% at constant currencies compared to a year ago, to $11.11 billion, beating a $10.84 billion estimate of analysts polled by Bloomberg.
There was a 4% constant currencies rise in net income to $1.87 billion, while adjusted earnings for the first quarter rose to $1.12 per share, again beating estimates.
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