Stryker: 2Q Earnings Snapshot
KALAMAZOO, Mich. (AP) _ Stryker Corp. (SYK) on Thursday reported a second-quarter loss of $83 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Kalamazoo, Michigan-based company said it had a loss of 22 cents. Earnings, adjusted for restructuring costs and amortization costs, were 64 cents per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The medical device maker posted revenue of $2.76 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $2.63 billion.
Stryker shares have decreased 4.5% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $200.55, a decline of 6% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SYK at https://www.zacks.com/ap/SYK