Abiomed beats Street 2Q forecasts

DANVERS, Mass. (AP) _ Abiomed Inc. (ABMD) on Thursday reported fiscal second-quarter net income of $24.5 million.

The Danvers, Massachusetts-based company said it had profit of 54 cents per share. Earnings, adjusted for non-recurring gains, were 44 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The maker of heart devices posted revenue of $132.8 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $130.8 million.

Abiomed shares have risen 52 percent since the beginning of the year. The stock has risen 41 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABMD at https://www.zacks.com/ap/ABMD