BASEL (dpa-AFX) - Novartis AG (NVS) released a profit for its third quarter that increased from last year and beat the Street estimates.
The company's earnings totaled $3.185 billion, or $1.58 per share. This compares with $1.763 billion, or $0.85 per share, in last year's third quarter.
Excluding items, Novartis AG reported adjusted earnings of $4.133 billion or $2.06 per share for the period.
Analysts on average had expected the company to earn $1.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 8.8% to $12.823 billion from $11.782 billion last year.
Novartis AG earnings at a glance (GAAP) :
-Earnings (Q3): $3.185 Bln. vs. $1.763 Bln. last year. -EPS (Q3): $1.58 vs. $0.85 last year. -Revenue (Q3): $12.823 Bln vs. $11.782 Bln last year.
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