U.S. Markets closed

Zimmer: 1Q Earnings Snapshot

WARSAW, Ind. (AP) _ Zimmer Biomet Holdings Inc. (ZBH) on Friday reported first-quarter earnings of $246.1 million.

On a per-share basis, the Warsaw, Indiana-based company said it had net income of $1.20. Earnings, adjusted for one-time gains and costs, came to $1.87 per share.

The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.86 per share.

The orthopedic device maker posted revenue of $1.98 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $1.97 billion.

Zimmer shares have increased 20 percent since the beginning of the year. The stock has climbed 13 percent in the last 12 months.

_____

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