Boston Scientific meets 3Q profit forecasts
MARLBOROUGH, Mass. (AP) — Boston Scientific Corp. (BSX) on Wednesday reported profit of $43 million in its third quarter.
The Marlborough, Massachusetts-based company said it had profit of 3 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, were 20 cents per share.
The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 20 cents per share.
The medical device manufacturer posted revenue of $1.85 billion in the period, which topped Street forecasts. Analysts expected $1.82 billion, according to Zacks.
For the current quarter ending in December, Boston Scientific said it expects revenue in the range of $1.88 billion to $1.93 billion. Analysts surveyed by Zacks had expected revenue of $1.92 billion.
The company expects full-year earnings to be 22 cents to 24 cents per share, with revenue ranging from $7.37 billion to $7.42 billion.
Boston Scientific shares have increased slightly since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 percent. The stock has decreased almost 2 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. BSX stock research report from Zacks: http://www.zacks.com/ap/BSX
Keywords:Boston Scientific,Earnings Report