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Boston Scientific Beats on Q3 Earnings, Raises 2025 View, Stock Up
October 22, 2025 — 09:23 am EDT
Written by Zacks Equity Research for Zacks->
Boston Scientific Corporation BSX posted third-quarter 2025 adjusted earnings per share (EPS) of 75 cents, up 19% from the year-ago figure. The figure beat the Zacks Consensus Estimate by 5.6% and exceeded the company’s adjusted EPS guidance of 70-72 cents.
The quarter’s adjustments included certain amortization expenses, goodwill and other intangible asset impairment charges and acquisition/divestitures-related net charges, among others. Reported EPS for the third quarter was 51 cents, reflecting a 59.4% jump from the year-ago quarter’s 22 cents.
Q3 Revenue Details of BSX
Revenues totaled $5.07 billion, up 20.3% year over year on a reported basis and 19.4% on an operational basis. Organic growth, adjusted for foreign currency fluctuations and certain recent acquisitions and divestments, was 15.3%.
The top line surpassed the Zacks Consensus Estimate by 1.9% and exceeded the company’s guidance of 17-19%.
Following the earnings announcement, shares of BSX climbed 0.1% in pre-market trading today.
BSX’s Q3 Revenues by Regions
In the third quarter, revenues rose 27% in the United States on a reported basis (same operationally).
Reported revenues rose 2.6% in Europe, the Middle East and Africa (EMEA) region (down 2% operationally) and 17.1% in the Asia Pacific zone (up 16.9% operationally).
Reported revenues increased 10.4% in Latin America and Canada (up 9.6% operationally). Reported revenue growth in emerging markets was 11.8% (up 11.5% operationally).
Breaking Down BSX’s Q3 Revenues by Segments
Boston Scientific recently reorganized its operational structure and aggregated its core businesses into two reportable segments — MedSurg and Cardiovascular. Both these segments generate revenues from the sale of Medical Devices.
MedSurg
MedSurg revenues in the third quarter totaled $1.72 billion, up 16.4% year over year on a reported basis (up 7.6% organically).
Within this, the Endoscopy unit generated revenues of $747 million, up 9% organically.
Urology revenues amounted to $682 million, reflecting organic growth of 5.4%.
The Neuromodulation business reported $293 million in revenues, highlighting an 8.6% rise organically year over year.
Cardiovascular
The company generates maximum revenues from this segment. Revenues in the third quarter totaled $3.34 billion, up 22.4% (reportedly) and 19.4% (organically) year over year.
Within this, Cardiology business sales totaled $2.64 billion (up 23.1% year over year organically) in the third quarter.
The Peripheral Interventions unit generated $702 million in sales, up 6.3%.
Boston Scientific Corporation Price, Consensus and EPS Surprise
Boston Scientific Corporation Price, Consensus and EPS Surprise
Boston Scientific Corporation price-consensus-eps-surprise-chart | Boston Scientific Corporation Quote
BSX’s Margin Performance in Q3
The gross margin expanded 110 basis points (bps) year over year to 69.9%. There was a 16.1% rise in the cost of products sold to $1.52 billion in the reported quarter.
Selling, general and administrative expenses rose 11.5% to $1.74 billion. Research and development expenses rose 26.3% to $514 million. Royalty expenses of $12 million increased 140% year over year. The adjusted operating margin expanded 324 bps to 25.2% in the reported quarter.
BSX Updates 2025 Outlook, Shares Q4 View
For 2025, Boston Scientific now anticipates net sales to grow approximately 20% (compared with the earlier guidance of 18-19%) on a reported basis and 15.5% on an organic basis (earlier 14-15%). The Zacks Consensus Estimate is currently pegged at $19.85 billion, indicating an 18.6% rise from the 2024 reported figure.
Full-year adjusted EPS is now expected in the range of $3.02-$3.04 (previously $2.95-$2.99). The Zacks Consensus Estimate for the same is currently pegged at $2.98.
For the fourth quarter of 2025, revenue growth is projected in the range of approximately 14.5-16.5% on a reported basis (up 11-13% organically). Adjusted earnings are expected in the range of 77-79 cents per share.
The Zacks Consensus Estimate for fourth-quarter earnings and revenues is pegged at 76 cents per share and $5.16 billion, respectively.
Our View on BSX Stock
Boston Scientific ended the third quarter of 2025 on a solid note, with both revenues and earnings beating the respective estimates. The performance reflected the strength of the company’s product portfolio and the effectiveness of its highly engaged global team. Additionally, the raised sales and EPS projections for the full year instill optimism. The expansion of both margins in the quarter is encouraging.
Boston Scientific achieved several milestones across its portfolio in the third quarter. It gained approval in Japan for expanded labeling of the FARAPULSE PFA System for treating drug refractory, symptomatic persistent atrial fibrillation (AF) and began enrollment in the AGENT DCB STANCE trial to assess the safety and effectiveness of the AGENT Drug-Coated Balloon (DCB) in patients with previously untreated coronary lesions, compared to standard of care percutaneous coronary intervention (PCI) treatment with drug-eluting stents and/or balloon angioplasty.
Boston Scientific also completed asset acquisition with Elutia, Inc. to acquire the antibiotic-eluting EluPro BioEnvelope and the CanGaroo Envelope, designed to prevent certain post-operative complications for devices such as pacemakers and defibrillators.
