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Smith & Nephew confirms Q3 revenue fall but US, China business grows

Thu, 29th Oct 2020

Medical technology giant Smith & Nephew has reported revenue of $1.2 billion in the third quarter of 2020, down 4.2% year-on-year on an underlying basis. However, this marked a significant improvement on the second quarter's underlying revenue fall of 29.3%. The result was boosted by growth in the company's two main markets, the US and China. US revenue was up 0.9% on an underlying basis, but this was offset by a 6.2% decline from other established markets. Emerging markets declined by 14.5%, with growth in China offset by COVID-19 impacts in Latin America and India. Story provided by StockMarketWire.com

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