Stock down 2.18% (Il Sole 24 Ore Radiocor) - Zurich , 21 Aug - Shares of the Swiss-American eye care product company Alcon were lower in Zurich trade, after posting disappointing results for the second quarter of 2024.

At 0940 GMT, Alcon shares were down 2.18% to 80.90 francs in Zurich trade, underperforming the benchmark SMI index, which was down 0.03% at 12,262.96 points.

Alcon said it posted a core operating profit of 491 million dollars in the second quarter, below an analyst consensus for 506 million. Reported operating profit grew to 318 million dollars from 270 million while net profit increased to 223 million from 169 million. Revenue rose 3% to a record 2.50 billion dollars and was 6% higher at constant currency rates, but was nonetheless below a 2.52 billion analyst consensus.

Alcon confirmed its full year guidance. It continues to anticipate revenue rising 7-9% at constant rates to 9.9-10.1 billion dollars.

Analysts at RBC said that Alcon's confirmation of 2024 guidance was positive, but added that the weaker-than-expected quarterly revenue and operating profit figures, as well as the stronger than anticipated weakness of the performance of medical and eye care equipment pose an additional risk as it seeks to achieve full year consensus estimates.

AAA-Hob

(RADIOCOR) 21-08-24 11:51:48 (0225) 5 NNNN