Novartis' Q2 Earnings: Revenue And EPS Beat, Raises 2024 Profit Forecast On Strong Demand For Key Drugs
Portfolio Pulse from Vandana Singh
Novartis AG (NYSE:NVS) reported strong Q2 earnings with an adjusted EPS of $1.97, beating the consensus of $1.89. Revenue reached $12.51 billion, driven by key drugs like Entresto and Cosentyx. The company raised its 2024 profit forecast and expects core operating income to grow in the mid-to-high-teens percentage range.
July 18, 2024 | 1:06 pm
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Novartis reported strong Q2 earnings with an adjusted EPS of $1.97, beating expectations. Revenue reached $12.51 billion, driven by key drugs like Entresto and Cosentyx. The company raised its 2024 profit forecast and expects core operating income to grow in the mid-to-high-teens percentage range.
The strong Q2 earnings report, driven by key drugs, and the raised 2024 profit forecast are likely to positively impact Novartis' stock price in the short term. The company's reaffirmed guidance and increased expectations for core operating income further support a positive outlook.
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