Smith & Nephew shares surge 15.20% intraday after reporting strong Q2 earnings and announcing a $5 billion share buyback plan.

Smith & Nephew Plc surged 15.20% intraday, following the release of its half-year financial report, which exceeded analyst expectations with revenue of $2.96 billion and a 43% year-over-year increase in pre-tax profit to $362 million. The company also announced a $500 million share buyback program for the second half of the year and a 4.2% increase in dividends, while maintaining its outlook for 5.5% revenue growth and a 19-20% trading profit margin for 2025.