Novartis Q3 Earnings Beats Expectations On Strong Sales From Key Drugs, Lifts 2024 Outlook
Portfolio Pulse from Vandana Singh
Novartis AG reported strong Q3 earnings, with sales and EPS beating expectations. Key drugs like Cosentyx and Entresto showed significant growth. The company raised its 2024 guidance, expecting high teens growth in core operating income and low double-digit sales growth. Despite positive results, NVS stock is down 3.29% in premarket trading.
October 29, 2024 | 12:52 pm
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Novartis reported strong Q3 earnings, beating expectations with significant sales growth from key drugs. The company raised its 2024 guidance, but NVS stock is down 3.29% in premarket trading.
Novartis' strong Q3 performance and raised guidance indicate positive future prospects, which typically boosts investor confidence. However, the current premarket decline suggests short-term market reactions may be influenced by other factors, such as profit-taking or broader market conditions.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100