Novartis Q3 Profit and Revenue Miss the Mark (NVS)

Drug maker Novartis AG (NVS) on Thursday posted disappointing third quarter earnings results.

The Swiss company reported third quarter net income of $2.48 billion, or $1.01 per share, compared with $2.49 billion, or $1.02 per share, in the year-ago period. Excluding items, adjusted profit was $1.34 per share.

Revenue fell 7% from last year to $13.81 billion.

On average, Wall Street analysts expected a higher profit of $1.36 per share, on much larger revenue of $14.25 billion.

Novartis shares fell 47 cents, or 0.8%, in Thursday morning trading.

The Bottom Line
Shares of Novartis (NVS) have a 4.01% dividend yield, based on last night’s closing stock price of $61.39. The stock has technical support in the $56-$58 price area. If the stock can firm up, we see overhead resistance around the all-time high levels of $64-$65 a share.

Novartis AG (NVS) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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