In a story about Masimo earnings, The Associated Press reported erroneously that analysts polled by Zacks Investment Research expected earnings of 60 cents per share. Zacks has since revised its earnings estimate to 54 cents per share. The headlines are corrected to show that Masimo beat profit forecasts, based on the revised earnings estimate.
A corrected version of the story is below:
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Masimo beats 1Q profit forecasts
Masimo beats 1Q earnings expectations, tops revenue forecasts
IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Masimo Corp. (MASI) on Wednesday reported first-quarter earnings of $45.3 million.
The Irvine, California-based company said it had net income of 82 cents per share. Adjusted earnings came to 57 cents per share.
The performance topped analysts' estimates. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The medical technology company posted revenue of $186.3 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $183.6 million.
Masimo expects full-year earnings to be $2.65 per share, with revenue expected to be $759 million.
Masimo shares have climbed 54 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $103.48, more than doubling in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on MASI at https://www.zacks.com/ap/MASI
Keywords: Masimo, Earnings Report