Novo Nordisk up, as it reports 10% rise in 2nd-qtr operating profit

9 August 2019

Danish diabetes care giant Novo Nordisk (NOV: N) has posted a 10% rise in second-quarter of 2019 operating profit to 13.5 billion Danish kroner ($2.03 billion), above an average 13.0 billion kroner forecast in a Reuters poll of analysts, sending the firm’s shares 1.4% higher in early trading this morning.

Second-quarter net profit fell 7.2% to 9.6 billion kroner, after the company saw higher financial expenses, just missing a FactSet-compiled consensus estimate of 9.62 billion. Earnings per share (EPS) were 4.03 kroner, down 5.4%.

Novo Nordisk posted revenues for the reporting quarter of 30,036 million kroner, up 9.6%). Within the total, diabetes care and obesity product sales came in at 25,236 million kroner (+9.6%), and biopharmaceuticals were 4,800 million kroner (+9.7%).

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