Globus Medical: Q2 Earnings Snapshot

Associated Press Finance
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AUDUBON, Pa. (AP) — AUDUBON, Pa. (AP) — Globus Medical Inc. (GMED) on Thursday reported second-quarter net income of $57.7 million.

The Audubon, Pennsylvania-based company said it had profit of 57 cents per share. Earnings, adjusted for one-time gains and costs, came to 63 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The medical device company posted revenue of $291.6 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $282.1 million.

Globus Medical expects full-year earnings to be $2.30 per share, with revenue expected to be $1.13 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GMED at https://www.zacks.com/ap/GMED

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