MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — Boston Scientific Corp. (BSX) on Wednesday reported second-quarter profit of $797 million.
On a per-share basis, the Marlborough, Massachusetts-based company said it had net income of 53 cents. Earnings, adjusted for one-time gains and costs, came to 75 cents per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The medical device manufacturer posted revenue of $5.06 billion in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $4.89 billion.
For the current quarter ending in September, Boston Scientific expects its per-share earnings to range from 70 cents to 72 cents.
The company expects full-year earnings in the range of $2.95 to $2.99 per share.
Boston Scientific shares have increased 15% since the beginning of the year, while the S&P's 500 index has increased slightly more than 7%. The stock has increased 32% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BSX at https://www.zacks.com/ap/BSX
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