Boston Scientific tops Street 2Q forecasts

Markets Associated Press

Boston Scientific Corp. (BSX) on Thursday reported second-quarter net income of $146 million, after reporting a loss in the same period a year earlier.

Continue Reading Below

On a per-share basis, the Marlborough, Massachusetts-based company said it had net income of 11 cents. Earnings, adjusted for one-time gains and costs, were 32 cents per share.

The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The medical device manufacturer posted revenue of $2.26 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $2.21 billion.

For the current quarter ending in October, Boston Scientific expects its per-share earnings to range from 30 cents to 32 cents.

The company expects full-year earnings in the range of $1.23 to $1.27 per share, with revenue ranging from $8.89 billion to $8.99 billion.

Continue Reading Below

Boston Scientific shares have climbed 27 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 11 percent. The stock has risen 14 percent in the last 12 months.

_____

This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on BSX at https://www.zacks.com/ap/BSX

_____

Keywords: Boston Scientific, Earnings Report