Orthopedic Giant Zimmer Biomet Q3 Earnings: Beats Estimates On Knee Procedures Strength, But Cuts Guidance
Portfolio Pulse from Vandana Singh
Zimmer Biomet Holdings Inc (ZBH) reported Q3 net sales of $1.754 billion, a 5.0% Y/Y increase, and an adjusted EPS of $1.65, beating estimates. However, the company cut its full-year revenue forecast to 6%-6.5% growth due to a stronger foreign currency exchange impact. ZBH shares are down 4.04% at $104.88.
November 07, 2023 | 5:58 pm
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Zimmer Biomet reported strong Q3 results but cut its full-year revenue forecast, leading to a drop in its share price.
Zimmer Biomet's Q3 results were strong, beating estimates. However, the company cut its full-year revenue forecast due to a stronger foreign currency exchange impact. This has led to a negative reaction in the market, with the company's shares dropping by 4.04%.
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