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Thursday, April 23, 2009 3:37:18 PM
How NVS’ Operating Income Was Affected by FX
If the whole world used the same currency, NVS’ 1Q09 operating income would’ve grown by 5% relative to 1Q08. But currency transactions reduced operating income by 7% and currency translations reduced operating income by an additional 4%, resulting in a negative 6% year-over-year change in operating income as reported.
If the whole world used the same currency, NVS’ 1Q09 operating income would’ve grown by 5% relative to 1Q08. But currency transactions reduced operating income by 7% and currency translations reduced operating income by an additional 4%, resulting in a negative 6% year-over-year change in operating income as reported.
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