BASEL, Switzerland (AP) _ Novartis AG (NVS) on Wednesday reported fourth-quarter profit of $1.47 billion.
On a per-share basis, the Basel, Switzerland-based company said it had net income of 68 cents. Earnings, adjusted for non-recurring costs, came to $1.51 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The drugmaker posted revenue of $12.69 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $12.85 billion.
For the year, the company reported profit of $6.96 billion, or $3.17 per share. Revenue was reported as $50.55 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NVS at https://www.zacks.com/ap/NVS
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