Novartis AG (ADR) (NVS) Stock Pops on Solid Q2 Earnings
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Novartis AG (ADR) (NYSE:NVS) stock got a boost on Tuesday with the release of its earnings report for the second quarter of 2017.
Source: Shutterstock
In its earnings report for the second quarter of the year, Novartis AG (ADR) reported earnings per share of $1.22. This is an decrease from its earnings per share of of $1.23 from the same time last year. However, the company still beat out Wall Street’s earnings per share estimate of $1.18 for the quarter, which was a boon for NVS stock.
Novartis AG (ADR) reported revenue of $12.24 billion in its second quarter of the year. This is down slightly from the revenue of $12.47 billion that was reported in the second quarter of 2017. Analysts were expecting the company to report revenue of $12.27 billion for the second quarter of 2017.
Operating income reported by Novartis AG (ADR) for the second quarter of the year was $2.28 billion. The healthcare company reported operating income of $2.09 billion during the same period of the year prior.
Net income reported by Novartis AG (ADR) in the second quarter of 2017 was $1.98 billion. This is an increase over the net income of $2.09 billion that was reported in the second quarter of 2016.
Novartis AG (ADR) also reaffirmed its outlook for 2017 in its most recent earnings report. The company is expecting revenue for the year to be in line with last year’s. It is also expecting its core operating income to be flat or decline in the low single digits when compared to 2016.
NVS stock was up 1% as of Tuesday afternoon and is up 15% year-to-date.
More From InvestorPlace
As of this writing, William White did not hold a position in any of the aforementioned securities.
The post Novartis AG (ADR) (NVS) Stock Pops on Solid Q2 Earnings appeared first on InvestorPlace.