Boston Scientific (NYSE:BSX) shares rose more than 3% in pre-market trading on Wednesday after the medical device manufacturer reported second-quarter earnings and revenue that exceeded Wall Street expectations, supported by broad-based growth across its business.
The company reported earnings of $0.86 per share for the quarter, ahead of analysts’ consensus estimate of $0.83
Revenue increased to $5.44 billion, representing 7% operational and organic growth and surpassing market expectations of $5.37 billion. Broad-Based Growth Across Business Segments Boston Scientific delivered growth across both of its core operating divisions during the quarter. The MedSurg segment recorded reported net sales growth of 5.9%, with operational and organic growth of 5.4%.
Meanwhile, the Cardiovascular business continued to outperform, posting reported net sales growth of 8.3%, while operational and organic growth reached 7.8%. International Markets Support Revenue Growth The company also reported strong performance across its major geographic regions. In the United States, net sales increased 6.2% on both a reported and operational basis.