By Cristina Roca

 

Siemens Healthineers AG said Thursday that its first-quarter revenue and earnings rose, and upgraded its guidance for fiscal 2022 as it expects to generate more revenue from its rapid Covid-19 antigen tests.

The German medical-equipment maker said net income was 472 million euros ($533.6 million) in the quarter ended Dec. 31 up from EUR437 million a year earlier.

Revenue was EUR5.07 billion, up 9.5% on year on a comparable basis, the company said. Analysts had expected the company to post quarterly revenue of EUR4.93 billion, according to a FactSet consensus.

Excluding rapid Covid-19 antigen tests, revenue rose 4.5%.

Siemens Healthineers said it now expects the tests to generate around EUR700 million in revenue, compared with previous expectations of EUR200 million, in fiscal 2022.

As a result, it raised its annual comparable revenue growth guidance to 3% to 5%, from 0%-2% previously, and its targeted adjusted basic earnings per share to EUR2.18-EUR2.30, from EUR2.08-EUR2.20 previously.

 

Write to Cristina Roca at cristina.roca@wsj.com

 

(END) Dow Jones Newswires

February 03, 2022 01:35 ET (06:35 GMT)

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