St. Jude Medical Earnings: Here’s Why Investors are Bidding Down Shares Now
St. Jude Medical Inc. (NYSE:STJ) delivered a profit and beat Wall Street’s expectations, AND met the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.34%.
St. Jude Medical Inc. Earnings Cheat Sheet
Results: Net income decreased -4% to $120 million (92 cents per diluted share) in the quarter versus a net gain of $125 million in the year-earlier quarter.
Revenue: Decreased 2.62% to $1.37 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: St. Jude Medical Inc. reported adjusted net income of 92 cents per share. By that measure, the company beat the mean analyst estimate of $0.9. It met the average revenue estimate of $1.37 billion.