Boston Scientific (NYSE:BSX) today raised its outlook for the rest of the year after posting first-quarter results that beat the consensus forecast on Wall Street.
The Marlborough, Mass.-based medical device giant reported profits of $298 million, or 21¢ per share, on sales of $2.38 billion for the three months ended March 31, marking a 2.8% profit gain on top-line growth of 10.1% compared with Q1 2017.
Adjusted to exclude one-time items, earnings per share were 33¢, a penny ahead of The Street, where analysts predicted sales of $2.34 billion.
“Our consistently strong performance reflects our team’s ongoing dedication to patients and customers,” chairman & CEO Mike Mahoney said in prepared remarks. “With our increasingly diversified portfolio and resilience in a rapidly-evolving global landscape, we are excited about our outlook.”
Boston Scientific said it now expects to deliver adjusted EPS of $1.37 to $1.41 this year, up from prior guidance for $1.35 to $1.39. Full-year revenues are now pegged at $9.75 billion to $9.90 billion, compared to $9.65 billion to $9.80 billion previously.
The post Boston Scientific raises outlook after Q1 results top estimates appeared first on MassDevice.
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