Boston Scientific Earnings: Here’s Why the Stock is Rising Now
Boston Scientific Corporation (NYSE:BSX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 9.89%.
Boston Scientific Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 9.09% to $0.1 in the quarter versus EPS of $0.11 in the year-earlier quarter.
Revenue: Decreased 1.04% to $1.81 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Boston Scientific Corporation reported adjusted EPS income of $0.1 per share. By that measure, the company beat the mean analyst estimate of $0.09. It beat the average revenue estimate of $1.78 billion.
Quoting Management: “We are pleased with our improved performance during the quarter,” said Mike Mahoney, president and chief executive officer, Boston Scientific. “As we continue to expand our portfolio, our team is inspired to deliver meaningful innovation to more patients globally.”
Key Stats (on next page)…
Revenue increased 2.73% from $1.76 billion in the previous quarter. EPS decreased 0% from $0.10 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.1 to a profit $0.09. For the current year, the average estimate is a profit of $0.41, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)