Cardinal Health posts 22% increase in Q3 revenue to $30.7 billion

DUBLIN, Ohio - Cardinal Health on Thursday reported a 21% increase in revenue to $30.7 billion for its third quarter for the fiscal year 2016.

 

"We had a strong financial and operational performance in our fiscal third quarter. At the same time, we continued to enhance and grow enterprise-wide service and product lines, which are important to our customers and address some of health care's most difficult challenges," stated George Barrett, chairman and CEO Cardinal Health. "We delivered double-digit growth in revenue and profit in both our Pharmaceutical and Medical reporting segments and had very solid performance across our lines of business."

 

Third-quarter revenue for the Pharmaceutical segment increased 22% to $27.5 billion due to growth from new and existing customers as well as acquisitions. Third-quarter revenue for the Medical segment increased 13% to $3.1 billion due to the net contribution from acquisitions as well as solid growth from existing businesses.