Novartis Shares Rise Over 5% in Premarket Trading on Q1 Earnings Beat and Raised Full-Year Guidance

Gelonghui April 23 | Novartis (NVS.US) rose 5.14% in pre-market trading to $100. Novartis' first-quarter revenue increased by 10% year-over-year to $11.83 billion, surpassing the expected $11.49 billion; adjusted operating profit grew by 16% to $4.54 billion, exceeding analysts' average estimate of approximately $4.3 billion. Looking ahead, the company forecasts full-year 2024 sales growth in the high single-digit to low double-digit percentage range, higher than the previous mid-single-digit expectation; core operating profit is expected to grow at a low double-digit to 15% rate, up from the prior high single-digit projection.