Novartis: stock down with EPS below expectations

(CercleFinance.com) - The Novartis share is down 2.
4% in Zurich, following the publication of "core" net profit that is up 2% at 2.9 billion dollars (+8% at constant exchange rates) over Q4 2018, representing 1.25 dollar per share, while the consensus was looking for a cent more.

The Swiss pharmaceutical giant increased its core operating income by 5% to nearly 3.4 billion dollars, for net sales of nearly 13.3 billion dollars, up 3% (+6% excluding FX factors), driven by innovative health businesses.

Novartis will propose a dividend of 2.85 Swiss francs per share, up 2%. For 2019, the group is looking for growth in core operating income at constant exchange rates, between the middle and top of the single-digit range, excluding Alcon and Sandoz.


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