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AUDUBON, Pa. (AP) — AUDUBON, Pa. (AP) — Globus Medical Inc. (GMED) on Tuesday reported second-quarter profit of $31.8 million.
The Audubon, Pennsylvania-based company said it had profit of 23 cents per share. Earnings, adjusted for one-time gains and costs, were 75 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The medical device company posted revenue of $629.7 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $615 million.
Globus Medical expects full-year earnings in the range of $2.80 to $2.90 per share, with revenue in the range of $2.47 billion to $2.49 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