Boston Scientific second-quarter profit drops 97 percent

MarketsAssociated Press

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.

Continue Reading Below

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