U.S.-German medical device maker Siemens Healthineers on Wednesday reported a drop in quarterly operating profit and free cash flow due to the tailing-off of its rapid COVID-19 antigen test business.
Adjusted earnings before interest and taxes (EBIT) fell to 740 million euros ($812.59 million) in the third quarter, below the 773 million euros expected by analysts according to a consensus provided by the company.
Free cash flow was down 40% compared with the same quarter last year, at 285 million euros.
($1 = 0.9084 euros)
(Reporting by Miranda Murray and Alexander Huebner, Editing by Rachel More)
