Boston Scientific: 1Q Earnings Snapshot

Boston Scientific Corp. on Wednesday reported first quarter net income of $424 million.

On a per-share basis, the Marlborough, Massachusetts-based company said it had profit of 30 cents. Earnings, adjusted for one-time gains and costs, were 35 cents per share.

The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The medical device manufacturer posted revenue of $2.49 billion in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $2.54 billion.

For the current quarter ending in July, Boston Scientific expects its per-share earnings to range from 37 cents to 39 cents.

The company expects full-year earnings in the range of $1.54 to $1.58 per share.

Boston Scientific shares have increased 1.5% since the beginning of the year, while the Standard & Poor's 500 index has climbed 17%. The stock has increased 24% in the last 12 months.

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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