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Novartis: 4Q Earnings Snapshot

BASEL, Switzerland (AP) _ Novartis AG (NVS) on Wednesday reported fourth-quarter net income of $1.19 billion.

The Basel, Switzerland-based company said it had net income of 51 cents per share. Earnings, adjusted for non-recurring costs, were $1.24 per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The drugmaker posted revenue of $13.27 billion in the period.

For the year, the company reported profit of $12.61 billion, or $5.38 per share. Revenue was reported as $51.9 billion.

Novartis shares have increased roughly 1 percent since the beginning of the year. The stock has fallen almost 7 percent in the last 12 months.

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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