By Michael Tobin
Zimmer Biomet Holdings (ZBH) reported Friday that second-quarter profit fell, but the company raised its end of year adjusted earnings guidance.
The medical device company had $133.7 million in second-quarter net income, or 65 cents a share, compared with $185.0 million, or 90 cents a share, a year earlier. Analysts polled by FactSet estimated earnings of $1.19 a share.
Zimmer had $1.93 in adjusted earnings, compared with $1.92 during last year's second quarter. Analysts estimated adjusted earnings of $1.91.
Zimmer had $1.99 billion in revenue, compared with $2.01 billion a year earlier. Analysts were expecting $1.98 billion.
The company raised the lower end of its end of year adjusted diluted earnings per share to $7.75-$7.90, up from $7.70-$7.90.
Write to Michael Tobin at [email protected]