Boston Scientific Reports Strong Q4 Earnings, Exceeding Expectations
Boston Scientific Corp. (BSX) announced fourth-quarter earnings of $566 million, translating to 38 cents per share. Adjusted for non-operating expenses, earnings stood at 70 cents per share, surpassing analysts' estimates of 65 cents.
The medical device manufacturer also posted revenue of $4.56 billion, exceeding forecasts of $4.41 billion. For the full year, Boston Scientific reported profit of $1.85 billion ($1.25 per share) on revenue of $16.75 billion.
In the upcoming quarter, the company projects per-share earnings of 66-68 cents and full-year earnings of $2.80-$2.87 per share. Since the start of the year, Boston Scientific stock has risen by 16%, outperforming the S&P 500's 27% gain. Over the past 12 months, the stock has surged by 61%.