Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Cochlear Falls on Stalling Developed Market Sales

Cochlear Falls on Stalling Developed Market Sales
The logo of Cochlear Ltd. is displayed at the company's headquarters in Sydney. Photographer: Ian Waldie/Bloomberg

Cochlear Ltd., maker of the world’s top-selling ear implant, fell by the most in 16 months in Sydney trading after announcing stalling growth in developed markets that contribute more than 80 percent of sales.

The stock dropped 9.3 percent to close at A$72.96, its biggest decline since September 2011. The Sydney-based company today reported 1 percent growth in its Americas sales and a 2 percent decline in Europe, Middle East and Africa for the six months ended Dec. 31.

The “flat result shows market share loss” in developed markets, Andrew Goodsall, an analyst at UBS AG, wrote in a note to clients. The company derives more than 40 percent of its revenues from each the Americas and Europe region in the financial year ended June 30, according to data compiled by Bloomberg.

Cochlear, formed more than three decades ago to develop a so-called bionic ear invented by Melbourne researcher Graeme Clark, announced first-half net income of A$77.7 million ($81 million). That’s about 4.9 percent below the A$81.7 million average of five analyst estimates compiled by Bloomberg.

Cochlear’s Nucleus CI500 series of ear implants were pulled from the market in September 2011 after tiny cracks enabled water to enter the units, causing them to malfunction. The Sydney-based company said in October 2011 that the recall costs could reach A$150 million.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.