2023-04-25 01:05:12 ET
- Novartis press release ( NYSE: NVS ): Q1 Non-GAAP EPS of $1.71 beats by $0.18 .
- Revenue of $12.95B (+3.4% Y/Y) beats by $350M .
- Core operating income was $4.4B (+8%, +15% cc) driven by mainly higher gross margin partly offset by higher other expense and R&D costs.
- Core operating income margin was 34.1% of net sales, increasing by 1.5 percentage points (+2.2 percentage points cc).
- The core tax rate (core taxes as a percentage of core income before tax) was 16.3% compared to 16.9% in the prior year.
- The planned spin-off remains on track for the second half of 2023
For further details see:
Novartis Non-GAAP EPS of $1.71 beats by $0.18, revenue of $12.95B beats by $350M