Boston Scientific Losing Ground In The After Hours After Lowering Guidance (BSX)

Boston Scientific (NYSE: BSX) released their earnings report and updated guidance after the market closed today. BSX reported EPS of $0.16 compared to analysts' estimates of $0.08.

The company now expects second quarter GAAP results to range from a loss of $0.03 per share to a profit of $0.02 per share on revenue of $1.825 billion to $1.925 billion. The current consensus earnings estimate is $0.08 per share on revenue of $2.01 billion.

The company said it expects 2010 non-GAAP earnings of $0.50 to $0.60 per share on revenue of $7.6 billion to $8.0 billion. The company's previous guidance was for non-GAAP earnings of $0.62 to $0.72 per share on revenue of $8.10 billion to $8.50 billion and the current consensus earnings estimate is $0.36 per share on revenue of $8.10 billion for the year ending December 31, 2010.

In the after hours trading session, BSX shares have fallen 3.26% to $6.83. The stock closed the regular session 2.08% lower at $7.06.