MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — Boston Scientific Corp. (BSX) on Wednesday reported fourth-quarter earnings of $672 million.
The Marlborough, Massachusetts-based company said it had net income of 45 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, were 80 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The medical device manufacturer posted revenue of $5.29 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $5.27 billion.
For the year, the company reported profit of $2.9 billion, or $1.94 per share. Revenue was reported as $20.07 billion.
For the current quarter ending in March, Boston Scientific expects its per-share earnings to range from 78 cents to 80 cents.
The company expects full-year earnings in the range of $3.43 to $3.49 per share.
Boston Scientific shares have dropped roughly 4% since the beginning of the year, while the S&P’s 500 index has increased 1%. The stock has dropped 11% 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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