Carl Zeiss Meditec Shares Rise After Results Beat Expectations [MarketWatch]
CARL ZEISS MEDI UNSP/ADR (CZMWY)
NASDAQ:AMEX Investor Relations:
zeiss.com/meditec-ag/investor-relations.html
Company Research
Source: MarketWatch
At 1145 GMT, shares rose 4% at EUR110.20. The stock traded at roughly EUR132.00 at this time last year. Advertisement The German medical technology company reported 475 million euros ($512 million) in revenue for its fiscal first quarter ended Dec. 31, up 1% compared to the same period of the prior year and 3.3% adjusted for currency effects. Adjusted earnings before interest and taxes plunged 27% to EUR46 million. UBS analysts wrote in a note to investors that the results were better than expected as they had forecast revenue of EUR455 million and adjusted EBIT of EUR32 million. The company confirmed its outlook for the fiscal year, expecting further market growth despite geopolitical uncertainties and a challenging macroeconomic environment. Revenue is expected to be in line with the anticipated market growth and EBIT around the prior year's level of EUR348.1 million, Carl Zeiss Meditec said. "Our discussions with investors suggest that most remain sceptical this is deliv
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