Stryker: 2Q Earnings Snapshot
KALAMAZOO, Mich. (AP) _ Stryker Corp. (SYK) on Tuesday reported second-quarter net income of $452 million.
On a per-share basis, the Kalamazoo, Michigan-based company said it had net income of $1.19. Earnings, adjusted for amortization costs and pretax expenses, were $1.76 per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.
The medical device maker posted revenue of $3.32 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $3.31 billion.
For the current quarter ending in October, Stryker expects its per-share earnings to range from $1.65 to $1.70. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.70.
The company expects full-year earnings in the range of $7.22 to $7.27 per share.
Stryker shares have climbed 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5.5 percent. In the final minutes of trading on Tuesday, shares hit $173.55, an increase of 18 percent in the last 12 months.