For the second quarter, Stryker (NYSE:SYK) saw a rise in net income.
Earnings and Revenue Both EPS and revenues failed to meet Wall Street expectations as The company posted EPS of 85 cents a share and revenues of $2.11 billion. Analysts were expecting EPS of 98 cents a share and revenues of $2.13 billion. The company's reported EPS came in below the low estimate of 22 analysts of a profit of 95 cents.
The company's net income for the quarter was $325 million. According to the reported number, this is up 5.1% from last year's levels. Revenue climbed 3% from $2.05 billion in the same period last year.
Company Fundamental Trends Last quarter marked the third in a row of rising net income. The company's revenue has grown during at least each of the past four quarters on a year-over-year basis.
History Against Expectations The company missed estimates last quarter after meeting expectations the quarter before. It reported net income of 99 cents.
Official Comment: "Leveraging the strength of our broad based product offering, our Q2 revenues increased 3% as reported and 5% in constant currency. Through solid sales growth coupled with margin expansion we delivered adjusted per share earnings growth of 9%," commented Curt R. Hartman, Interim Chief Executive Officer and Vice President and Chief Financial Officer.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.