=Novartis (NVS) reported earnings on Thur 18 July 19 (a/h)

Novartis AG beats by $0.13, beats on revs; raises FY19 guidance

Reports Q2 (Jun) earnings of $1.34 per share, excluding non-recurring items, $0.13 better thanthe S&P Capital IQ Consensus of $1.21; revenues rose 3.7% year/year to $11.76 bln vs the $11.45 bln S&P Capital IQ Consensus.

Core operating income grew 20% (cc, +14% USD) mainly driven by strong sales and productivity, increasing core operating income margin by 3.2 percentage points (cc) to 31.0% of net sales

2019 guidance increased for new focused medicines company: Sales expected to grow mid to high-single digit (cc), core operating income expected to grow low double digit to mid-teens (cc), sales guidance increased for both divisions.

• Sales guidance was increased from prior guidance of "growing in the mid single digits" and core operating income was increased from prior guidance of "high single digits."