Is the word novo the same in Brazilian and European Portuguese?

Yes

The word "novo" is identical in meaning, spelling, and grammar in both Brazilian and Continental Portuguese. The only difference is in pronunciation:

• Brazilian Portuguese: The vowels are generally more open and "musical." The final "o" is typically pronounced as a clear [u] or a slightly closed [o].
• Continental Portuguese: The vowels are much more closed and "swallowed." The final "o" undergoes significant reduction, often sounding like a very short, whispered [u] or becoming almost silent.

Brazilian Portuguese Examples

1. Comprei um carro novo ontem. (I bought a new car yesterday.)
2. Ele é muito novo para dirigir. (He is very young to drive.)
3. Temos um novo professor na escola. (We have a new teacher at school.)
4. Este celular é novo, ainda está na caixa. (This cell phone is new, it's still in the box.)
5. Ela quer um novo emprego. (She wants a new job.)

Continental Portuguese Examples

1. Comprei um carro novo ontem. (I bought a new car yesterday.)
2. Ele é muito novo para conduzir. (He is very young to drive.)
3. Temos um novo professor na escola. (We have a new teacher at school.)
4. Este telemóvel é novo, ainda está na caixa. (This mobile phone is new, it's still in the box.)
5. Ela quer um novo emprego. (She wants a new job.)