Boston Scientific Matches Profit Expectations, But Sales Fall Shy

Boston Scientific Corporation reported Thursday a fourth-quarter loss of $142 million, or 11 cents per share, compared with a loss of $299 million, or 23 cents per share, in the same period a year ago. Adjusted EPS, which excludes one-time litigation and restructuring charges, was 26 cents, above the FactSet consensus of 25 cents. Revenue rose to $1.99 billion from $1.89 billion, just shy of the FactSet consensus of $2 billion. For the first quarter of 2016, the company expects adjusted EPS of 23 cents to 25 cents, surrounding the FactSet consensus of 24 cents. Revenue is expected to be $1.89 to $1.94 billion, compared with the FactSet consensus of $1.93 billion. The stock, which was not yet active in pre-market trade, had lost 5% over the past three months, while the S&P 500 has dropped 9%.