Boston Scientific Corporation stock research
FY2024 Q1
Boston Scientific (BSX) Gross Margin — Quarter Ended Mar 31, 2024
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit rose year over year but remained flat sequentially, resulting in a slightly lower gross margin for the current quarter.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit rose year over year but remained flat sequentially, resulting in a slightly lower gross margin for the current quarter.
- The gross margin decreased slightly from the preceding quarter and the year-ago period, as cost of revenue grew at a pace that outpaced revenue growth relative to gross profit.
- Sequentially, revenue was higher while gross profit was stable, leading to a lower gross margin. Year over year, both revenue and gross profit were higher, but the gross margin was slightly lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
68.7%
Gross profit
$2.6B
Revenue
$3.9B
Cost of revenue
$1.2B
Quarter-over-quarter change
-0.6 pts
Year-over-year change
-0.6 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2023 | $3.6B | $2.5B | $1.1B | 70.6% |
| Sep 30, 2023 | $3.5B | $2.4B | $1.1B | 68.8% |
| Dec 31, 2023 | $3.7B | $2.6B | $1.1B | 69.2% |
| Mar 31, 2024 | $3.9B | $2.6B | $1.2B | 68.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
-0.6 pts
Year-over-year change
Mar 31, 2023
-0.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin decreased slightly from the preceding quarter and the year-ago period, as cost of revenue grew at a pace that outpaced revenue growth relative to gross profit.
Sequentially, revenue was higher while gross profit was stable, leading to a lower gross margin. Year over year, both revenue and gross profit were higher, but the gross margin was slightly lower.
Monitor the trend in cost of revenue relative to revenue, as the gross margin has edged lower for two consecutive comparisons.