Boston Scientific has posted GAAP net income attributable to its common stockholders of $261m or $0.18 earnings per share in Q2 2023, a 6% increase over $246m recorded during the same period last year.
In Q2 2023, the company reported net sales of approximately $3.6bn, witnessing 11% growth on a reported basis, 12% on an operational basis and 11.6% on an organic basis, compared with $3.2bn in the same period in the previous year.
During the quarter, the company’s operating expenses totalled $2.02bn as against the previous year’s expenses of $1.81bn.
Its MedSurg segment posted net sales growth of 9% on a reported basis, as well as 9.6% and 8.8% on an operational and organic basis, respectively during the latest quarter. The cardiovascular saw 12.2% net sales growth on reported and 13.4% operational and organic basis, respectively.
For the first half (H1) of 2023, the company reported net sales of almost $7bn as against $6.2bn in the same period of 2022.
The net income attributable to common stockholders in H1 2023 stood at $561m, as against $342m in H1 2022.
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Boston anticipates net sales to see a growth range of approximately 8.5% to 10.5% on a reported basis and 7% to 9% on an organic basis in Q3 2023.
For the full year, it expects net sales to grow approximately 10.5% to 11.5% on a reported basis and roughly 10% to 11% organically.
Boston Scientific chairman and CEO Mike Mahoney said: “We had another quarter of excellent results fueled by our innovative portfolio, strong commercial execution and the high performance of our global team.
“We are excited about our long-term outlook and robust pipeline of unique innovations to address unmet patient needs.”