WARSAW, Ind. (AP) — WARSAW, Ind. (AP) — Zimmer Biomet Holdings Inc. (ZBH) on Thursday reported first-quarter net income of $172.4 million.
On a per-share basis, the Warsaw, Indiana-based company said it had profit of 84 cents. Earnings, adjusted for amortization costs and restructuring costs, came to $1.94 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.87 per share.
The orthopedic device maker posted revenue of $1.89 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $1.87 billion.
Zimmer expects full-year earnings in the range of $8 to $8.15 per share.
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