AUDUBON, Pa. (AP) — AUDUBON, Pa. (AP) — Globus Medical Inc. (GMED) on Thursday reported first-quarter net income of $124.3 million.
On a per-share basis, the Audubon, Pennsylvania-based company said it had profit of 90 cents. Earnings, adjusted for non-recurring costs, were $1.12 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The medical device company posted revenue of $759.9 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $730.3 million.
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