LAVAL, Quebec (AP) — LAVAL, Quebec (AP) — Bausch Health Companies Inc. (BHC) on Wednesday reported third-quarter net income of $179 million, after reporting a loss in the same period a year earlier.
The Laval, Quebec-based company said it had profit of 48 cents per share. Earnings, adjusted for non-recurring costs, were $1.16 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The drugmaker posted revenue of $2.68 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $2.6 billion.
Bausch expects full-year revenue in the range of $10.05 billion to $10.25 billion.
Bausch shares have dropped 27% since the beginning of the year. The stock has decreased 28% in the last 12 months.
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