Medical device maker Boston Scientific Corporation (NYSE: BSX) has announced financial results for the fourth quarter of 2022, reporting a decline in adjusted profit and a modest increase in sales.
In the fourth quarter, net sales increased 4% year-over-year to $3.2 billion, with both operating segments registering growth.
The company’s reported profit more than doubled to $126 million or $0.09 per share during the three-month period from $80 million or $0.06 per share a year earlier. Adjusted earnings advanced 35% annually to $0.45 per share in the fourth quarter.
“Our global team continues living our mission to transform lives, and I’m proud of the results we achieved in the fourth quarter and throughout 2022. In the year ahead we remain committed to our goals of delivering new, meaningful innovations to benefit patients globally while continuing to deliver differentiated financial performance,” said CEO Mike Mahoney.