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