MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — Boston Scientific Corp. (BSX) on Thursday reported third-quarter profit of $505 million.
The Marlborough, Massachusetts-based company said it had net income of 34 cents per share. Earnings, adjusted for one-time gains and costs, came to 50 cents per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The medical device manufacturer posted revenue of $3.53 billion in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $3.47 billion.
For the current quarter ending in December, Boston Scientific expects its per-share earnings to range from 49 cents to 52 cents.
The company expects full-year earnings in the range of $1.99 to $2.02 per share.
Boston Scientific shares have risen 8% since the beginning of the year, while the S&P's 500 index has risen 9%. The stock has increased 21% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BSX at https://www.zacks.com/ap/BSX