Globus Medical: 2Q Earnings Snapshot
Aug. 01, 2018
AUDUBON, Pa. (AP) _ Globus Medical Inc. (GMED) on Wednesday reported second-quarter profit of $45 million.
The Audubon, Pennsylvania-based company said it had net income of 44 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The medical device company posted revenue of $173.4 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $168.8 million.
Globus Medical expects full-year earnings to be $1.55 per share, with revenue expected to be $700 million.
Globus Medical shares have climbed 29 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $52.85, a climb of 71 percent in the last 12 months.