Boston Scientific revenue falls short of expectations
Courtesy Photos
Marlborough-based Boston Scientific reported less revenue growth than anticipated by analysts.
While Boston Scientific reported revenue growth of approximately 5 percent in the fourth quarter of 2015, that ended up being approximately $16 million below what was expected and the company’s stock took a hit.
The quarterly report that was released Thursday morning detailing the Marlborough company’s revenue -- $1.978 billion during the fourth quarter ended Dec. 31, 2015 -- was followed by the stock dropping by 4.4 percent by noon. The company’s earnings per share were $.26 for the quarter, compared to $.22 the year prior.
But that was not enough for Wall Street, -- the company's stock fell sharply around noon but then recovered slightly into the afternoon.
For the year, the company reported sales of $7.48 billion, representing 8 percent growth, while full year adjusted earnings per share were $0.93, compared to $0.84 in 2014.
WBJ Web Partners
Most Recent
Most Recent
0 Comments