Boston Scientific's sales beat; 2018 revenue is forecast above estimates

  • Boston Scientific forecast better-than-expected 2018 revenue.
  • The medical device maker's fourth-quarter sales also beat estimates.
  • Net sales rose 10 percent to $2.41 billion, beating the average estimate of $2.38 billion.
Boston Scientific headquarters
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Boston Scientific headquarters

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 it expects a revenue of between $9.65 billion and $9.80 billion and 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, in the fourth quarter ended Dec. 31, compared with a profit of $124 million, or 9 cents per share, a year earlier. In the reporting quarter, the company incurred a $842 million charge due to changes in the 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.