Healthcare
Diagnostics & Research
$200.81B
122K
Key insights and themes extracted from this filing
Total revenue decreased by 1% year-over-year, from $10,687 million to $10,541 million, primarily due to a decline in COVID-19 related product sales. This decline was partially offset by growth in other areas.
Operating income increased by 15% year-over-year, from $1,578 million to $1,820 million, driven by strong productivity improvements and lower restructuring costs, despite the revenue decline.
Diluted earnings per share increased by 15% year-over-year, from $3.51 to $4.04, benefiting from the operating income growth and a lower tax rate due to a tax benefit recorded in the quarter.