By Brad Perriello
St. Jude Medical’s 1st-quarter earnings top both its own guidance and Wall Street’s outlook, prompting the medical device company to boost its 2015 sales forecast.
First-quarter results for St. Jude Medical (NYSE:STJ) beat both its own forecast and Wall Street’s today, prompting the medical device company to raise its sales outlook for the rest of the year.
St. Paul, Minn.-based St. Jude reported profits of $262 million, or 91¢ per share, on sales of $1.35 billion for the 3 months ended April 4.
Although that’s a -1.3% top-line slide compared with Q1 2014, the bottom line grew 5.2%. And adjusted to exclude 1-time items, earnings per share were 93¢, 2¢ ahead of The Street and St. Jude.
