Globus Medical: 2Q Earnings Snapshot
AUDUBON, Pa. (AP) _ Globus Medical Inc. (GMED) on Thursday reported second-quarter net income of $38.2 million.
On a per-share basis, the Audubon, Pennsylvania-based company said it had profit of 38 cents. Earnings, adjusted for one-time gains and costs, were 41 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 41 cents per share.
The medical device company posted revenue of $194.5 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $183.9 million.
Globus Medical expects full-year earnings to be $1.72 per share, with revenue in the range of $770 million to $775 million.
Globus Medical shares have risen 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.39, a fall of 12% in the last 12 months.