By Allison Prang
Stryker Corp. reported a drop in profit but slightly higher revenue for the fourth quarter as operating expenses increased from a year earlier.
Net income was $568 million, or $1.49 a share, for the fourth quarter. Earnings a year ago were $725 million, or $1.90 a share.
Adjusted earnings were $2.81 a share. According to FactSet, analysts were expecting $2.55 a share.
Stryker's operating expenses rose 12% from a year ago to $1.97 billion. The company also logged more in other expenses vs. the comparable quarter a year earlier.
Net sales rose more than 3% from a year ago to $4.26 billion. Analysts were expecting $4.33 billion.
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(END) Dow Jones Newswires
January 27, 2021 16:33 ET (21:33 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.