Boston Scientific: Q1 Earnings Snapshot
MARLBOROUGH, Mass. (AP) _ Boston Scientific Corp. (BSX) on Wednesday reported first-quarter earnings of $110 million.
The Marlborough, Massachusetts-based company said it had net income of 7 cents per share. Earnings, adjusted for amortization costs and to extinguish debt, came to 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 $3.03 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $2.95 billion.
For the current quarter ending in July, Boston Scientific expects its per-share earnings to range from 41 cents to 43 cents.
The company expects full-year earnings in the range of $1.74 to $1.79 per share.
Boston Scientific shares have increased slightly since the beginning of the year, while the S&P’s 500 index has decreased 12%. The stock has risen nearly 1% in the last 12 months.