Business
Cochlear posts $238m loss as COVID, patent case bites – Sydney Morning Herald
Underlying profit at the hearing implant maker slid 42 per cent as coronavirus shutdowns impacted sales.
The expense brought the company’s overall net loss to $238.3 million, a 186 per cent drop on last year’s $276.7 million profit.
Cochlear shares rose 6.5 per cent to $211.28 in morning trade.
Chief executive Dig Howitt said the tough coronavirus conditions had not changed the company’s broader goals of retaining and growing market leadership for its products.
He said elective surgeries had started to flow back in key markets but Cochlear was watching closely to evaluate the impact of the pande…
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