MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — Boston Scientific Corp. (BSX) on Wednesday reported first-quarter profit of $674 million.
The Marlborough, Massachusetts-based company said it had net income of 45 cents per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to 75 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The medical device manufacturer posted revenue of $4.66 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $4.56 billion.
For the current quarter ending in June, Boston Scientific expects its per-share earnings to range from 71 cents to 73 cents.
The company expects full-year earnings in the range of $2.87 to $2.94 per share.
Boston Scientific shares have risen slightly more than 6% since the beginning of the year, while the S&P’s 500 index has decreased 10%. The stock has climbed 40% in the last 12 months.
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