Novartis Q3: Earnings Beat, Raised Operating Profit Outlook & More
Portfolio Pulse from Lekha Gupta
Novartis AG reported Q3 FY23 sales of $11.78 billion, up 12% Y/Y, beating the consensus of $11.40 billion. Sales growth was driven by strong performance from Entresto, Kesimpta, Pluvicto, Kisqali and Scemblix. The company also raised its core operating income growth guidance for FY23. Novartis completed the spin-off of Sandoz Group AG, which debuted on the SIX Swiss Exchange this month. NVS shares are down 0.90% premarket.
October 24, 2023 | 9:53 am
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NEUTRAL IMPACT
Novartis reported strong Q3 results, beating sales expectations and raising its FY23 guidance. However, its shares are down 0.90% premarket.
Despite the strong Q3 results and raised guidance, the stock price is down in premarket trading. This could be due to market factors or investor sentiment not fully reflected in the earnings report.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Novartis completed the spin-off of Sandoz Group AG, which debuted on the SIX Swiss Exchange this month.
The spin-off of Sandoz Group by Novartis could have implications for both companies. However, the impact on Sandoz's stock price will depend on its own performance and investor sentiment towards the new standalone company.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50