This has to qualify as one of the worst explanations of why Novartis is down 1%. "Revenue rose to $14.02 B
but it missed the estimate of $14.02B"???? Either it missed by some trivial amount akin to a rounding error or it missed some whisper number. My explanation is that NVS has run considerably and 1% is insignificant and a natural pause.
I'm anxious to here more about vaccines and biosimilars which I think are likely to be significant drivers of growth going forward. Unfortunately, Sandoz progress on biosimilar drugs is intentionally underplayed so as not to stir up the legal challenges from the targeted branded drug.
Novartis AG Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.94% to $1.32 in the quarter versus EPS of $1.27 in the year-earlier quarter.
Revenue: Rose 0.74% to $14.02 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Novartis AG reported adjusted EPS income of $1.32 per share. By that measure, the company beat the mean analyst estimate of $1.28. It missed the average revenue estimate of $14.02 billion.
Quoting Management: There was no comment from the management.