- cafead Aug 14, 2023 at 11:22: AM
via As we near the end of the ongoing earnings season, we see that the scorecard for the Medical sector has been pretty decent. The sector primarily comprises pharma/biotech and medical device companies.
Per the Earnings Trends report, as of Aug 9, 91.4% of the companies in the Medical sector, constituting nearly 96% of the sector’s market capitalization, reported earnings. While 86.8% beat estimates on earnings, 77.4% beat the same for sales. Earnings declined 30.7% year over year but revenues increased 5%. Overall, second-quarter earnings for the Medical sector are expected to decline 30% despite a 5.4% sales increase.
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Per the Earnings Trends report, as of Aug 9, 91.4% of the companies in the Medical sector, constituting nearly 96% of the sector’s market capitalization, reported earnings. While 86.8% beat estimates on earnings, 77.4% beat the same for sales. Earnings declined 30.7% year over year but revenues increased 5%. Overall, second-quarter earnings for the Medical sector are expected to decline 30% despite a 5.4% sales increase.
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