Here’s to why Alcon Inc. (ALC) stock surged during pre-market trading session?

BMO Stock
BMO Stock

Alcon Inc. (NASDAQ: ALC) stock gained by 0.72% at last close while the ALC stock price rises by 8.63% in the pre-market trading session. Alcon makes it possible for individuals to see clearly. We provide the widest array of products to improve vision and improve people’s lives as the world leader in eye care with a glorious history of more than seven decades.

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ALC stock, Financial Highlights

Alcon has released its second-quarter 2021 financial results. The summary is stated below:

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  • In the second quarter, global revenues were $2.1 billion, up 75 percent on a reported basis and 69 percent in constant currency terms compared to the same period in 2020. The eye care market improved across the board, owing to a robust recovery in the United States and varying rates of recovery in other countries following the COVID-19 epidemic.
  • Operating income for the second quarter of 2021 was $229 million, which included $128 million in amortization costs for certain intangible assets. Q2 2021 net operating income was $382 million after these and other adjustments. Due to the COVID-19, there was a general slowdown in non-urgent operations and reduced demand in the previous year period.
  • Operating income calculated for the first half of 2021 was $378 million, including charges of $253 million from intangible asset amortization and a $45 million impairment of an intangible asset.
  • Diluted profits per share in the second quarter of 2021 were $0.31, while core diluted earnings per share were $0.56. Diluted earnings per share were $0.48 in the first half of 2021, while core diluted earnings per share were $1.05.
  • The company had $1.4 billion in cash at the end of the second quarter.

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David Endicott, Alcon’s Chief Executive Officer commented,

With their greatest quarterly revenues and profitability since the spin-off, their second-quarter result illustrates the strength and durability of the businesses. Despite the ongoing effect of COVID-19, strong commercial performance behind their new product launches drove growth in all revenue categories in Surgical and Vision Care in 2019.

The optimism in generating top-line growth with continuous innovation and the rising demand for eye care is based on the business’s robust recovery. As they increase their portfolio and react to market needs, they stay focused on ensuring a continuous stream of the flow of products as they expand their industrial base.


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