BASEL, Switzerland (AP) — BASEL, Switzerland (AP) — Novartis AG (NVS) on Friday reported fourth-quarter net income of $2.82 billion.

On a per-share basis, the Basel, Switzerland-based company said it had net income of $1.41. Earnings, adjusted for non-recurring costs, came to $1.98 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.

The drugmaker posted revenue of $13.15 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $12.97 billion.

For the year, the company reported profit of $11.94 billion, or $5.87 per share. Revenue was reported as $50.32 billion.

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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