Boston Scientific Q2 Earnings Surpass Estimates - Here's How It Foresees FY23
Portfolio Pulse from Vandana Singh
Boston Scientific Corp (NYSE:BSX) reported Q2 revenues of $3.59 billion, surpassing Wall Street's estimate of $3.50 billion. The company's adjusted EPS was $0.53, beating the consensus of $0.49. However, Boston Scientific terminated its $230 million plan to acquire a majority stake in M.I. Tech due to regulatory hurdles. The company revised its FY23 revenue growth guidance to 10.5%-11.5% and forecasts an adjusted EPS of $1.96-$2.00.
July 27, 2023 | 3:05 pm
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POSITIVE IMPACT
Boston Scientific's Q2 results and revised FY23 guidance could boost investor confidence, potentially driving the stock price up. However, the termination of the M.I. Tech acquisition could have a negative impact.
Positive earnings results and upward revision of future guidance are typically seen as positive signals by investors, which could drive the stock price up. However, the termination of the M.I. Tech acquisition could be seen as a setback, potentially having a negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100