AUDUBON, Pa. (AP) — AUDUBON, Pa. (AP) — Globus Medical Inc. (GMED) on Thursday reported second-quarter profit of $202.8 million.
On a per-share basis, the Audubon, Pennsylvania-based company said it had profit of $1.49. Earnings, adjusted for one-time gains and costs, were 86 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The medical device company posted revenue of $745.3 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $741.7 million.
Globus Medical expects full-year earnings in the range of $3 to $3.30 per share, with revenue in the range of $2.8 billion to $2.9 billion.
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