For the second quarter, Stryker (SYK) saw a rise in net income.
Earnings and Revenue
Both EPS and revenues failed to meet Wall Street expectations as The company posted EPS of 85 cents a share and revenues of $2.11 billion. Analysts were expecting EPS of 98 cents a share and revenues of $2.13 billion. The company's reported EPS came in below the low estimate of 22 analysts of a profit of 95 cents.
The company's net income for the quarter was $325 million. According to the reported number, this is up 5.1% from last year's levels. Revenue climbed 3% from $2.05 billion in the same period last year.
Company Fundamental Trends
Last quarter marked the third in a row of rising net income. The company's revenue has grown during at least each of the past four quarters on a year-over-year basis.
History Against Expectations
The company missed estimates last quarter after meeting expectations the quarter before. It reported net income of 99 cents.
"Leveraging the strength of our broad based product offering, our Q2 revenues increased 3% as reported and 5% in constant currency. Through solid sales growth coupled with margin expansion we delivered adjusted per share earnings growth of 9%," commented Curt R. Hartman, Interim Chief Executive Officer and Vice President and Chief Financial Officer.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.