DEERFIELD, Ill. (AP) — DEERFIELD, Ill. (AP) — Baxter International Inc. (BAX) on Thursday reported a loss of $1.13 billion in its fourth quarter.
The Deerfield, Illinois-based company said it had a loss of $2.19 per share. Earnings, adjusted for asset impairment costs and pretax expenses, came to 44 cents per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The drug and medical device maker posted revenue of $2.97 billion in the period, surpassing Street forecasts. Seven analysts surveyed by Zacks expected $2.79 billion.
For the year, the company reported that its loss widened to $957 million, or $1.87 per share. Revenue was reported as $11.24 billion.
Baxter expects full-year earnings in the range of $1.85 to $2.05 per share.
Baxter shares have risen 17% since the beginning of the year, while the S&P’s 500 index has risen slightly more than 1%.
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