Boston Scientific Posts $495M Q1 Profit

The results beat Wall Street expectations.

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MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — Boston Scientific Corp. (BSX) on Wednesday reported first-quarter profit of $495 million.

On a per-share basis, the Marlborough, Massachusetts-based company said it had profit of 33 cents. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were 56 cents per share.

The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The medical device manufacturer posted revenue of $3.86 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $3.68 billion.

For the current quarter ending in June, Boston Scientific expects its per-share earnings to range from 57 cents to 59 cents.

The company expects full-year earnings in the range of $2.29 to $2.34 per share.

Boston Scientific shares have risen 19% since the beginning of the year, while the S&P's 500 index has increased slightly more than 6%. The stock has increased 34% in the last 12 months.

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