Baxter: 3Q Earnings Snapshot
DEERFIELD, Ill. (AP) _ Baxter International Inc. (BAX) on Wednesday reported third-quarter net income of $544 million.
On a per-share basis, the Deerfield, Illinois-based company said it had net income of $1. Earnings, adjusted for non-recurring gains, were 80 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The drug and medical device maker posted revenue of $2.77 billion in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $2.79 billion.
For the current quarter ending in December, Baxter expects its per-share earnings to range from 71 cents to 73 cents.
The company expects full-year earnings in the range of $2.98 to $3 per share.
Baxter shares have risen roughly 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat.