Baxter: 2Q Earnings Snapshot
DEERFIELD, Ill. (AP) _ Baxter International Inc. (BAX) on Thursday reported second-quarter profit of $343 million.
The Deerfield, Illinois-based company said it had profit of 63 cents per share. Earnings, adjusted for non-recurring costs, came to 77 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The drug and medical device maker posted revenue of $2.84 billion in the period, which met Street forecasts.
For the current quarter ending in October, Baxter expects its per-share earnings to range from 72 cents to 74 cents.
The company expects full-year earnings in the range of $2.94 to $3 per share.
Baxter shares have climbed 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 6.5 percent.