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Pandemic lockdowns in China led to a drop in revenue at Healthineers’ Diagnostics business by nearly a quarter as fewer COVID-19 tests were used there, the U.S.-German medical device maker said on Thursday.
Adjusted earnings before interest and tax (EBIT) for the three months through December fell to 647 million euros ($712.93 million), less than the 663 million expected by analysts, according to a consensus provided by the company.
Revenues for the fiscal first quarter came to 5.08 billion euros, down 4.5% on a comparable basis, which was also below consensus for 5.21 billion.
The company nonetheless stuck with its guidance for full-year revenue growth of -1% to +1%, or 6-8% growth excluding revenue from COVID-19 tests, and said it still saw adjusted basic earnings per share of 2 euros to 2.20 euros.
($1 = 0.9075 euros)
