Zimmer Biomet Holdings Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Zimmer Biomet Holdings Inc. (ZBH) reported a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $162.7 million, or $0.77 per share. This compares with $194.0 million, or $0.92 per share, in last year's third quarter.

Excluding items, Zimmer Biomet Holdings Inc. reported adjusted earnings of $346.5 million or $1.65 per share for the period.

Analysts on average had expected the company to earn $1.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.8% to $1.75 billion from $1.67 billion last year.

Zimmer Biomet Holdings Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $162.7 Mln. vs. $194.0 Mln. last year. -EPS (Q3): $0.77 vs. $0.92 last year. -Analyst Estimates: $1.60 -Revenue (Q3): $1.75 Bln vs. $1.67 Bln last year.

-Guidance: Full year EPS guidance: $7.47 - $7.57