By Dean Seal

 

Becton Dickinson & Co.'s top and bottom lines declined in its fiscal first quarter, but the company delivered stronger adjusted earnings and revenue than analysts had expected.

The medical-technology company posted a profit of $509 million, or $1.70 a share, compared with $677 million, or $2.28 a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings were $2.98 a share. Analysts polled by FactSet had been expecting $2.68 a share.

Revenue came in at $4.59 billion, down from $4.72 billion last year but above analyst expectations of $4.53 billion, according to FactSet.

Stripping out revenue from Covid-19 diagnostic testing, total revenue was up slightly, and 5.2% higher on a currency-neutral basis.

 

Write to Dean Seal at dean.seal@wsj.com

 

(END) Dow Jones Newswires

February 02, 2023 06:59 ET (11:59 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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