Zimmer Biomet Profit, Revenue Decline -- Update
July 26 2019 - 9:07AM
Dow Jones News
By Michael Tobin
Zimmer Biomet Holdings (ZBH) reported Friday that second-quarter
profit fell, but the company raised its full-year adjusted earnings
guidance.
The medical device company had $133.7 million in second-quarter
net income, or 65 cents a share, compared with $185 million, or 90
cents a share, a year earlier.
Zimmer had $1.93 a share in adjusted earnings, compared with
$1.92 a share during last year's second quarter. Analysts estimated
adjusted earnings of $1.91 a share.
Zimmer had $1.99 billion in revenue, compared with $2.01 billion
a year earlier. Analysts were expecting $1.98 billion.
The company also raised the low-end of its full-year forecast
for adjusted earnings. Zimmer expects to post a profit of $7.75 to
$7.90 a share on an adjusted basis, up from $7.70 to $7.90 a
share.
Write to Michael Tobin at michael.tobin@wsj.com
(END) Dow Jones Newswires
July 26, 2019 08:52 ET (12:52 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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