On the evening of July 28th, Beijing time, Boston Scientific Corp., the world's leading provider of medical equipment and technology, released its second-quarter earnings report today. Although it was affected by negative news such as product quality litigation, its quarterly results were still better. It is expected that the company will also raise its full-year performance forecast.
The financial report shows that Boston Scientific's second-quarter sales increased 15% year-on-year to $2.13 billion (the company's accounting system is set for revenue), and its MedSurg medical system division (including urology, pelvic health, endoscopy, and neuromodulation) Sales in the department increased by 29%, sales in the cardiovascular sector increased by 13%, and sales in the pacemaker equipment sector increased by 4%.
Overall, the company lost $207 million in the second quarter, equivalent to a loss of 15 cents per share, compared with a profit of $102 million in the same period last year, equivalent to 8 cents per share. After deducting special items, especially for product legal proceedings, its adjusted earnings per share for the second quarter was 27 cents.
Analysts had expected the company's second-quarter earnings per share to be 27 cents and revenue to be $2.05 billion. As performance generally exceeded expectations, Boston Scientific raised its full-year earnings forecast and raised its full-year earnings per share forecast from $1.06 to $1.10 to $1.11 to $1.11 per share. The original $8.08 billion to $8.23 billion was raised to between $8.27 billion and $8.37 billion.
According to reports, due to its earnings report, the company's share price rose 0.6% to $23.80 per share during pre-market trading hours.
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