Technology company Danaher Corporation (NYSE: DHR) Tuesday announced financial results for the third quarter of 2023, reporting lower sales and net profit.
Third-quarter net income was $1.13 billion, or $1.51 per share, compared to $1.55 billion or $2.10 per share in the same period of last year. Adjusted earnings dropped 21% annually to $2.02 per share.
The weak earnings performance reflects an 11% decrease in third-quarter revenues to $6.87 billion, mainly due to lower sales in the Diagnostics and Biotechnology segments.