Boston Scientific: 2Q Earnings Snapshot

Boston Scientific Corp. (BSX) on Wednesday reported second-quarter profit of $555 million.

On a per-share basis, the Marlborough, Massachusetts-based company said it had net income of 40 cents. Earnings, adjusted for one-time gains and costs, came to 41 cents per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

The medical device manufacturer posted revenue of $2.49 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $2.46 billion.

For the current quarter ending in October, Boston Scientific expects its per-share earnings to range from 33 cents to 35 cents.

The company said it expects revenue in the range of $2.38 billion to $2.42 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $2.39 billion.

Boston Scientific expects full-year earnings in the range of $1.37 to $1.41 per share, with revenue ranging from $9.8 billion to $9.88 billion.

Boston Scientific shares have risen 35 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 5.5 percent. The stock has climbed 22 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on BSX at https://www.zacks.com/ap/BSX