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Novartis Second-Quarter Earnings, Revenue Fall Less Than Forecast

Switzerland's Novartis (NVS) said on Tuesday that second-quarter earnings fell by 3%, slightly less than expected, as revenue declined by 2% to $12.47 billion.

The pharmaceuticals company, which had beaten consensus expectations in only one of the previous four quarters, said earnings per share fell to $1.23. That was slightly above the $1.19 Bloomberg consensus, while the revenue figure compared with a forecast of $12.2 billion. On a constant currency basis sales were flat, while earnings per share fell by 1%.