Boston Scientific 1Q Sales Rise, Profit Falls
April 27 2022 - 7:13AM
Dow Jones News
By Will Feuer
Boston Scientific Corp. said its first-quarter profit fell even
as sales rose amid higher costs.
The Marlborough, Mass.-based medical-device maker posted net
income of $110 million, compared with $341 million a year earlier.
Per-share earnings were 7 cents, compared with 23 cents.
Stripping out one-time items, the company's adjusted earnings
were 39 cents a share. Analysts surveyed by FactSet forecast
adjusted earnings of 38 cents a share.
Sales rose 10% to $3.03 billion. Analysts had anticipated sales
of $2.96 billion, according to FactSet. Cost of products sold rose
from $894 million to $955 million.
Boston Scientific posted 9.1% sales growth in its
medical-surgical division and 11.4% growth in cardiovascular
sales.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
April 27, 2022 06:58 ET (10:58 GMT)
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