Bausch + Lomb Corporation Reports Q1 Net Loss of $90 Million
Company Revenue Reaches $931 Million in the First Quarter of 2023
Bausch + Lomb Corporation,(BLCO) a renowned eye health company, has released its condensed consolidated financial statements for the first quarter of 2023. The report reveals a net loss of $90 million, contrasting with a net income of $20 million in the same period last year. Despite the financial challenges, the company's revenue demonstrated strength, reaching $931 million in the first quarter.
Net Loss of $90 Million for Q1
In the first quarter of 2023, Bausch + Lomb Corporation reported a net loss of $90 million. This represents a significant downturn compared to the same period last year when the company recorded a net income of $20 million. The decrease in net income can be attributed to several factors, including higher expenses and other charges.
The company's operating income for the quarter was reported at a loss of $2 million. This compares unfavorably to the operating income of $54 million recorded in the first quarter of the previous year.
