(RTTNews) – Swiss drug main Novartis AG (NVS) reported Friday that its fourth-quarter web revenue plunged to $2.82 billion from final yr’s $8.48 billion. Earnings per share fell to $1.42 from final yr’s $4.14.
The prior yr’s outcomes included web revenue of $5.84 billion from discontinued operations of Sandoz Group AG.
On a seamless operations foundation, web revenue grew 7 % to $2.82 billion from final yr’s $2.64 billion, and earnings per share elevated 10 % to $1.42 from $1.29 final yr.
Core web revenue was $3.93 billion or $1.98 per share, in comparison with $3.13 billion or $1.53 per share a yr earlier.
The Wall Avenue analysts on common anticipated the corporate to report earnings of $1.78 per share. Analysts’ estimates usually exclude particular gadgets.
Web gross sales for the quarter grew 15 % to $13.15 billion from final yr’s $11.42 billion. Gross sales grew 16 % at fixed foreign money charges. The Avenue was searching for gross sales of $12.82 billion for the quarter.
Additional, the Novartis Board of Administrators proposed a dividend fee of CHF 3.50 per share for 2024, up 6.1 % from the prior yr. Shareholders will vote on this proposal on the AGM on March 7.
Trying forward, for fiscal 2025, the corporate tasks web gross sales to develop mid- to high-single digit and core working revenue to develop excessive single to low double-digit.
“With the momentum we’re seeing within the enterprise, we anticipate to proceed our sturdy gross sales development with margin growth in 2025 and we stay on monitor to ship on our mid-term steering,” Novartis added.
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