Boston Scientific Swings to 2Q Loss, Posts Lower Sales
July 29 2020 - 7:17AM
Dow Jones News
By Dave Sebastian
Boston Scientific Corp. said it swung to a loss for the second
quarter, with sales falling 23.87%.
The Marlborough, Mass., maker of medical devices didn't
immediately address specific Covid-19 effects in its earnings
release Wednesday, though the second quarter has seen fewer doctor
visits for elective care due to shelter-in-place measures.
The company posted net loss of $147 million, or 11 cents a
share, compared with a profit of $154 million, or 11 cents a share,
in the year-ago period.
Adjusted earnings were eight cents a share. Analysts polled by
FactSet were expecting adjusted losses of three cents a share.
Sales fell to $2 billion from $2.63 billion in the prior year.
Analysts were looking for $1.73 billion. Sales in all regions
declined, with the U.S. falling 28.4% and Asia Pacific falling
14.8%. Sales in Europe, Middle East and Africa fell 27.2%, and
those in emerging markets fell 19.7%.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 29, 2020 07:02 ET (11:02 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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