Cochlear Ltd's stock price fell sharply by 14.14% during intraday trading on Friday, following the release of disappointing financial results for the first half of fiscal year 2026.

The Australian hearing-technology developer reported a 21% drop in first-half net profit to A$161.5 million, significantly below analyst expectations. Sales revenue of A$1.18 billion also missed estimates, coming in lower than the A$1.22 billion forecast by analysts.

The company attributed the weaker performance to prolonged negotiations over price increases for its latest hearing system, which slowed product rollout. Additionally, Cochlear expects full-year underlying net profit to be at the lower end of its A$435 million to A$460 million guidance range, citing currency headwinds and revenue pressure from cheaper products in emerging markets.