DEERFIELD, Ill. (AP) — DEERFIELD, Ill. (AP) — Baxter International Inc. (BAX) on Thursday reported first-quarter earnings of $44 million.
The Deerfield, Illinois-based company said it had profit of 9 cents per share. Earnings, adjusted for one-time gains and costs, came to 59 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The drug and medical device maker posted revenue of $3.65 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $3.6 billion.
For the current quarter ending in June, Baxter expects its per-share earnings to range from 59 cents to 61 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.01.
The company expects full-year earnings in the range of $2.85 to $3 per share.
Baxter shares have dropped roughly 10% since the beginning of the year, while the S&P’s 500 index has climbed roughly 6%.
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
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