Roche first-half results beat estimates

Swiss pharma giant Roche (ROG: SIX) this morning posted first-half 2016 financial results, reporting profit that beat analysts’ consensus estimates, but the firm’s share price was barely changed in early trading, up a modest 0.3% at 253.80 Swiss francs.

The company said net income rose 4% to 5.5 billion Swiss francs ($5.57 billion) in the six month period, exceeding forecasts of 5.3 billion francs. Core earnings per share, which exclude some items, increased 7.2% to 7.74 francs, beating the 7.65-franc estimate of nine analysts surveyed by Bloomberg.

Revenue increased 6% (+4.8% at constant exchange rates) to 25 billion francs, just ahead of a consensus forecast of 24.79 billion francs in a Reuters poll.