Medtech company Smith+Nephew surpassed $5 billion in 2023 revenue, according to its Feb. 27 financial report.
Here are four things to know about the company's 2023 fourth-quarter and full-year results:
1. Fourth-quarter revenue was $1.46 billion in 2023, a 6.8% increase from 2022.
2. Full-year revenue also increased in 2023, reaching $5.55 billion after recording $5.22 billion in 2022.
3. The company's operating profit dropped slightly, reporting $425 million in 2023 after hitting $450 million in 2022.
4. Smith+Nephew saw a 5.7% increase in orthopedic growth and a 10% growth in sports medicine and ENT.