Smith & Nephew reports revenue growth in third quarter
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Key takeaways:
- Smith & Nephew reported revenue growth compared with prior year period in its third-quarter financial results
- The company reported $1.412 billion in revenue for the quarter.
Smith & Nephew reported increased revenue across several businesses in its third quarter of 2024 financial results, according to a company press release.
“We delivered encouraging growth in most segments and markets in the third quarter as the 12-point plan drove further financial improvements,” Deepak Nath, CEO of Smith & Nephew, said in the release. “We are making progress in both hip and knee implants in the U.S., although there is more to do,” he said.
Smith & Nephew reported $1.412 billion in revenue for the third quarter, a 4% increase from the prior year period ($1.357 billion). The company also reported revenue growth in orthopedics (2.3%), sports medicine and ear, nose and throat (3.9%), and advanced wound management (6.5%) compared with prior year period.
“We continue to deliver on longer-term growth drivers, including robotics adoption and product innovation, as well as improving productivity,” Nath added. “While the revised outlook reflects the headwinds across our surgical businesses in China, we remain convinced that our transformation to a higher growth company, with the ability to drive operating leverage through to the bottom line, is on the right course.”
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