Boston Scientific second-quarter profit drops 97 percent
Boston Scientific Corp. (BSX) on Thursday reported earnings that decreased by 97 percent in its second quarter, and beat analysts' expectations.
The Natick, Massachusetts-based company said profit declined to $4 million, or roughly breakeven on a per-share basis, from $130 million, or 10 cents per share, in the same quarter a year earlier.
Earnings, adjusted for one-time gains and costs, were 21 cents per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of 20 cents.
The company said revenue rose 3.5 percent to $1.87 billion from $1.81 billion in the same quarter a year earlier. The results matched Wall Street forecasts.
Boston Scientific shares have risen $1, or 8.3 percent, to $13.02 since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.5 percent. The stock has climbed $3.41, or 35 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full BSX report: http://www.zacks.com/ap/BSX
Keywords:Boston Scientific,Earnings Report