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![BOSTON SCIENTIFIC CORP [BSX] reports annual net loss of $1.6 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FBSX.png&w=1200&q=75)
BOSTON SCIENTIFIC CORP [BSX] has reported a net loss of $1.6 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $14.2 billion
Based in MARLBOROUGH, Massachusetts, BOSTON SCIENTIFIC CORP operates in the MANUFACTURING sector.
In the 12 months ended December 31, 2023, Boston Scientific Corporation reported a net sales revenue of $14.24 billion, marking an increase from the previous year's figure of $12.68 billion in 2022 and $11.89 billion in 2021.
The cost of products sold for the current reporting period was $4.345 billion, compared to $3.956 billion in 2022 and $3.711 billion in 2021. This resulted in a gross profit of $9.896 billion for 2023, up from $8.727 billion in 2022 and $8.177 billion in 2021.
Operating expenses for the company included selling, general and administrative expenses of $5.19 billion, research and development expenses of $1.414 billion, and other expenses such as amortization, intangible asset impairment charges, and litigation-related charges.
The operating income for the period was $2.343 billion, showing an improvement from $1.649 billion in 2022 and $1.199 billion in 2021.
In terms of net income, Boston Scientific Corporation reported a net income of $1.592 billion for 2023, a significant increase from $698 million in 2022 and $1.041 billion in 2021. This translated to earnings per share of $1.08 for basic and $1.07 for diluted in 2023, compared to $0.45 for both basic and diluted EPS in 2022 and $0.69 in 2021.
The weighted-average shares outstanding for basic and diluted EPS also increased slightly from 2022 to 2023, indicating potential growth in shareholder base or employee stock options exercised by the company.
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