The company expects an approximate 11% increase in net sales for the full year 2023 compared to the earlier year. Credit: Boston Scientific Corporation.

Boston Scientific has reported net sales of $3.52bn during the third quarter (Q3) of 2023 compared to $3.17bn in the year-ago period.

This growth is evident across various measures, with an 11.2% rise on a reported basis, an 11.1% increase on an operational basis and a 10.2% rise on an organic basis, all compared to the previous year.

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The company posted a GAAP net income attributable to its common stockholders, amounting to $505m or $0.34 earnings per share (EPS), marking an increase from $174m or $0.12 per share in the previous year.

Boston Scientific attained adjusted EPS of $0.50 for this period, against $0.43 a year ago.

In the MedSurg segment, the company reported 10.6% net sales growth, 10% operational and 9.4% organic growth.

In the cardiovascular segment, Boston Scientific achieved a growth rate of 11.6%, with 11.7% on an operational basis and 10.6% on an organic basis.

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The company anticipates an approximate 11% increase in net sales for the full year 2023 compared to the previous year, whether reported or organic.

Boston Scientific chairman and CEO Mike Mahoney said: “We achieved another quarter of strong performance, thanks to the hard work of our talented global team and our differentiated medical technologies that improve the lives of patients across the globe.

“As we shared at our recent Investor Day meeting, we are well-positioned for the long term, backed by our category leadership strategy, strong pipeline of innovation and track record of strong commercial execution.”