Novartis: Q1 Earnings Snapshot

BASEL, Switzerland (AP) — BASEL, Switzerland (AP) — Novartis AG (NVS) on Tuesday reported first-quarter profit of $2.69 billion.

The Basel, Switzerland-based company said it had net income of $1.31 per share. Earnings, adjusted for non-recurring costs, were $1.80 per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.

The drugmaker posted revenue of $11.83 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $11.5 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