Stryker: Q2 Earnings Snapshot

KALAMAZOO, Mich. (AP) _ Stryker Corp. (SYK) on Tuesday reported second-quarter net income of $592 million, after reporting a loss in the same period a year earlier.

The Kalamazoo, Michigan-based company said it had net income of $1.55 per share. Earnings, adjusted for one-time gains and costs, were $2.25 per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.12 per share.

The medical device maker posted revenue of $4.29 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $4.13 billion.

Stryker expects full-year earnings in the range of $9.25 to $9.40 per share.

Stryker shares have risen 9.5% since the beginning of the year, while the S&P’s 500 index has risen 17%. In the final minutes of trading on Tuesday, shares hit $268.35, a rise of 36% 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

Categories: Business News