Boston Scientific’s sales beat; 2018 revenue can be forecast above estimates

Boston Scientific on Thursday forecast better-than-expected 2018 revenue after the medical device maker’s fourth-quarter sales beat Wall Street estimates on higher sales in its cardiac rhythm management unit.

The company said the item expects a revenue of between $9.65 billion as well as $9.80 billion as well as adjusted earnings per share of $1.35 to $1.39 in 2018.

Analysts on average forecast earnings per share of $1.38 on a revenue of $9.61 billion in 2018, according to Thomson Reuters I/B/E/S.

Boston Scientific reported a net loss of $615 million, or 45 cents per share, inside fourth quarter ended Dec. 31, compared using a profit of $124 million, or 9 cents per share, a year earlier. inside reporting quarter, the company incurred a $842 million charge due to adjustments inside U.S. tax law.

The company’s adjusted earnings of 34 cents per share were in line with the average analyst estimate.

Net sales rose 10 percent to $2.41 billion, beating the average estimate of $2.38 billion.

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