Novartis revises final profit guidance for 2024 upward, exceeding second quarter earnings forecasts
Novartis (NYSE: NVS) raised its core operating income guidance for the full year in response to an increase in profit for the second quarter and the fact that sales exceeded consensus expectations.
Non-GAAP EPS for the second quarter was $1.97, which is above $0.11.
Sales of 12.51 billion dollars (up 9.4% from the same period last year) are above 0.19 billion dollars.
Free cash flow for the second quarter was 4.6 billion dollars (up 40% year over year).
Net cash flow from company-wide operating activities was 4.9 billion dollars, and free cash flow was 4.6 billion dollars.
Based on strong momentum, core operating profit guidance for the full year of 2024 was raised: sales are expected to grow from the latter half of the single digit range to the first half of the double digit range (no change), and core operating income is expected to grow from the first half of the double digit range to the middle of the 10% range.
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