Novo Nordisk's Q2 earnings fell short of expectations, but sales growth forecast was raised

From Morningstar: 2024-08-07 05:46:00

Novo Nordisk’s second-quarter net profit of 20.05 billion DKK fell short of forecasts, leading to a 3% drop in shares to 864 DKK. Earnings before interest and tax also missed expectations at 25.93 billion DKK, and the company revised its full-year 2024 operating profit outlook to 20-28% growth.

Despite the misses, Novo Nordisk raised its sales growth forecast for the year to 22-28%, up from the previous estimate of 19-27%. Analysts noted disappointments in the performance of certain drugs, but remain optimistic about the overall trend in GLP-1 use. Shares of the Danish pharmaceutical giant continue to face volatility in the market.



Read more at Morningstar: Novo Nordisk Shares Fall on Disappointing Q2 Earnings