Zimmer: 2Q Earnings Snapshot
WARSAW, Ind. (AP) _ Zimmer Biomet Holdings Inc. (ZBH) on Friday reported second-quarter net income of $133.7 million.
The Warsaw, Indiana-based company said it had profit of 65 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.93 per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.92 per share.
The orthopedic device maker posted revenue of $1.99 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $1.98 billion.
Zimmer expects full-year earnings in the range of $7.75 to $7.90 per share.
Zimmer shares have risen 19% since the beginning of the year. The stock has increased nearly 6% in the last 12 months.