Baxter: Q3 Earnings Snapshot
DEERFIELD, Ill. (AP) — DEERFIELD, Ill. (AP) — Baxter International Inc. (BAX) on Thursday reported third-quarter net income of $2.51 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Deerfield, Illinois-based company said it had net income of $4.93. Earnings, adjusted to account for discontinued operations, were 68 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The drug and medical device maker posted revenue of $3.71 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $3.69 billion.
For the current quarter ending in December, Baxter expects its per-share earnings to range from 85 cents to 88 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.01.
The company expects full-year earnings in the range of $2.57 to $2.60 per share.
Baxter shares have declined 36% since the beginning of the year, while the S&P’s 500 index has climbed 10%.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BAX at https://www.zacks.com/ap/BAX