AUDUBON, Pa. (AP) — AUDUBON, Pa. (AP) — Globus Medical Inc. (GMED) on Thursday reported third-quarter profit of $119 million.
On a per-share basis, the Audubon, Pennsylvania-based company said it had net income of 88 cents. Earnings, adjusted for one-time gains and costs, were $1.18 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The medical device company posted revenue of $769 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $733.4 million.
Globus Medical expects full-year earnings in the range of $3.75 to $3.85 per share, with revenue in the range of $2.86 billion to $2.9 billion.
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