Boston Scientific: 3Q Earnings Snapshot
MARLBOROUGH, Mass. (AP) — Boston Scientific Corp. (BSX) on Wednesday reported third-quarter profit of $126 million.
The Marlborough, Massachusetts-based company said it had profit of 9 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, were 39 cents per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The medical device manufacturer posted revenue of $2.71 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $2.64 billion.
For the current quarter ending in December, Boston Scientific expects its per-share earnings to range from 42 cents to 45 cents.
The company expects full-year earnings in the range of $1.55 to $1.58 per share.
Boston Scientific shares have risen 8% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has risen slightly more than 4% in the last 12 months.