Boston Scientific: 2Q Earnings Snapshot
MARLBOROUGH, Mass. (AP) _ Boston Scientific Corp. (BSX) on Wednesday reported second-quarter earnings of $154 million.
The Marlborough, Massachusetts-based company said it had profit of 11 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, came to 39 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The medical device manufacturer posted revenue of $2.63 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $2.64 billion.
For the current quarter ending in October, Boston Scientific expects its per-share earnings to range from 37 cents to 39 cents.
The company expects full-year earnings in the range of $1.54 to $1.58 per share.
Boston Scientific shares have increased 21% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. The stock has increased 27% in the last 12 months.