Zimmer: 3Q Earnings Snapshot
WARSAW, Ind. (AP) _ Zimmer Biomet Holdings Inc. (ZBH) on Tuesday reported third-quarter net income of $431.1 million.
The Warsaw, Indiana-based company said it had profit of $2.08 per share. Earnings, adjusted for one-time gains and costs, were $1.77 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.76 per share.
The orthopedic device maker posted revenue of $1.89 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $1.87 billion.
Zimmer shares have risen 32% since the beginning of the year. The stock has climbed 19% in the last 12 months.