|
Revenue fell to $17.10 billion in the third quarter from $18.47
billion a year earlier.
International sales fell nearly 14 pct to $8.31 billion in the
quarter, including a currency impact of 15.8 percent, the
company said. The company receives nearly half of its revenue
from outside the United States.
Net profit fell to $3.36 billion, or $1.20 per share, from $4.75
billion, or $1.66 per share, a year earlier.
The company said its adjusted profit was $1.49 per share.
Analysts on average had expected the Band-aid maker to earn
$1.45 per share on revenue of $17.45 billion.
The New Brunswick, New Jersey-based company also said it planned
to buy back up to $10 billion worth shares.
The company said it had about 2.77 billion shares of common
stock outstanding as of Sept. 27, valuing the company at $251.82
billion.
The repurchase would take away nearly 104 million shares of the
company's outstanding shares, according to Thomson Reuters
calculations.
The company had already bought back $5 billion of shares in a
program it announced in July last year.
The company's shares rose 1.3 percent after the buyback
announcement but pared some of the gains to trade near its
Monday close of $95.80 in premarket trading.
(Reporting by Vidya L Nathan in Bengaluru; Editing by Kirti
Pandey and Don Sebastian)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed. |
|
