Novartis-0.22%
Novartis' Q4 EPS down 91% to $0.69
Novartis AG announced on Wednesday its earnings per share (EPS) in the fourth quarter of fiscal 2022 in USD terms dropped 91% on a yearly basis to land at $0.69. Net sales amounted to $12.7 billion, decreasing 4% in comparison to the same period in 2021. Net income in the fourth trimester saw a fall of 91% on an annual level, landing at $1.5 billion.
For the whole fiscal year, net sales declined 2% year over year, to come in at $50.5 billion. Full-year 2022 EPS and net income both tumbled around 70% compared to the same timeframe a year earlier, standing at $3.19 and $6.9 billion respectively.
"We expect to continue to deliver improved financials and strengthen Novartis ESG foundations, on our journey to become most trusted and valued medicines company in the world," CEO Vas Narasimhan said.