MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — Boston Scientific Corp. (BSX) on Wednesday reported fourth-quarter earnings of $566 million.
The Marlborough, Massachusetts-based company said it had net income of 38 cents per share. Earnings, adjusted for amortization costs and asset impairment costs, were 70 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The medical device manufacturer posted revenue of $4.56 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $4.41 billion.
For the year, the company reported profit of $1.85 billion, or $1.25 per share. Revenue was reported as $16.75 billion.
For the current quarter ending in March, Boston Scientific expects its per-share earnings to range from 66 cents to 68 cents.
The company expects full-year earnings in the range of $2.80 to $2.87 per share.
Boston Scientific shares have increased 16% since the beginning of the year, while the S&P’s 500 index has climbed 27%. The stock has increased 61% 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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