Baxter: 2Q Earnings Snapshot
DEERFIELD, Ill. (AP) _ Baxter International Inc. (BAX) on Thursday reported second-quarter net income of $343 million.
The Deerfield, Illinois-based company said it had profit of 66 cents per share. Earnings, adjusted for non-recurring costs, were 89 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The drug and medical device maker posted revenue of $2.84 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $2.79 billion.
For the current quarter ending in October, Baxter expects its per-share earnings to range from 82 cents to 84 cents.
The company expects full-year earnings in the range of $3.34 to $3.40 per share.
Baxter shares have risen 28% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%.