Stryker: 2Q Earnings Snapshot
KALAMAZOO, Mich. (AP) _ Stryker Corp. (SYK) on Thursday reported second-quarter net income of $480 million.
The Kalamazoo, Michigan-based company said it had profit of $1.26 per share. Earnings, adjusted for non-recurring costs and amortization costs, were $1.98 per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.93 per share.
The medical device maker posted revenue of $3.65 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $3.6 billion.
For the current quarter ending in October, Stryker expects its per-share earnings to range from $1.87 to $1.92. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.90.
The company expects full-year earnings in the range of $8.15 to $8.25 per share.
Stryker shares have climbed 36% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. In the final minutes of trading on Thursday, shares hit $212.78, a rise of 25% in the last 12 months.