PastaLogic @PastaLogic: "ABB and Novartis see significant..."

Switzerland

ABB and Novartis see significant gains The two Swiss companies ABB and Novartis have significantly increased their profits. On Thursday, two Swiss companies presented business figures showing substantial growth. The Basel-based pharmaceutical giant Novartis recently made headlines with severe cost-cutting measures that included numerous job cuts. Now, the company has reported strong figures for the second quarter. Revenue rose by nine percent compared to the same period last year, reaching $12.5 billion. Novartis's profit also saw a substantial increase, reaching $3.25 billion. In the same quarter last year, it was CHF 2.3 billion. In a press release, Novartis attributed the profit jump to revenue growth and lower impairments. Novartis had already experienced strong growth in the first quarter. The company is now also raising its forecasts for the full year. ABB sees profit jump The industrial company ABB also posted strong gains. Compared to the same period last year, revenue in the second $SM (SM Energy Co) rose slightly by one percent to CHF 7.25 billion. However, profit surged by 21 percent to almost CHF 1 billion. ABB's order intake fell by three percent to CHF 7.45 billion. The company confirmed its full-year forecast and continues to expect revenue growth of around five percent. $ABBN.ZU (ABB LTD) $NVS (Novartis ADR) $EWL $XSMI.DE

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SM Energy Co

ABBN.ZU

ABB LTD

NVS

Novartis ADR

EWL

iShares MSCI Switzerland ETF

XSMI.DE

Xtrackers Switzerland UCITS ETF