Stryker 2Q Earnings Rise But Fall Short of Expectations
July 25 2019 - 5:00PM
Dow Jones News
By Dave Sebastian
Stryker Corp. (SYK) posted higher second-quarter earnings as
sales rose, but net profit fell short of analysts'
expectations.
The Michigan company's profit climbed to $480 million, or $1.26
a share, from $452 million, or $1.19 a share, a year earlier.
Analysts polled by FactSet were expecting a profit of $603.4
million, or $1.73 a share.
On an adjusted basis, profit rose to $1.98 a share from $1.76 a
share a year earlier. Analysts were expecting $1.71.
Revenue rose to $3.65 billion from $3.32 billion in the prior
year.
The maker of hip and knee implants and surgical products raised
its forecast for full-year adjusted profit to $8.15 to $8.25, from
its earlier view of $8.05 to $8.20. It said it expects organic net
sales to increase between 7.5% and 8%, also higher than its earlier
view of 6.8% to 7.5%.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 25, 2019 16:45 ET (20:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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