Zimmer Biomet Clocks 5% Revenue Growth In Q2, Raises Annual Guidance
Portfolio Pulse from Nabaparna Bhattacharya
Zimmer Biomet Holdings, Inc. (NYSE:ZBH) reported Q2 FY23 adjusted EPS of $1.82, in line with consensus estimates. The company posted Q2 sales of $1.870 billion, up 4.9% Y/Y, beating the consensus of $1.825 billion. Revenue from knee and hip products increased by 9.4% and 3.5% respectively. The company raised its financial guidance for 2023 based on confidence in business performance and innovation pipeline. However, ZBH shares are down 5.15% at $131.04.
August 04, 2023 | 9:31 am
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Zimmer Biomet reported strong Q2 results and raised its 2023 guidance, indicating confidence in its business performance. Despite this, its shares fell by 5.15%.
Zimmer Biomet reported strong Q2 results and raised its 2023 guidance, which typically would be positive news for the stock. However, the stock price fell, possibly due to other market factors or investor sentiment not captured in the news article.
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