DEERFIELD, Ill. (AP) — DEERFIELD, Ill. (AP) — Baxter International Inc. (BAX) on Thursday reported second-quarter net income of $126 million.
On a per-share basis, the Deerfield, Illinois-based company said it had profit of 24 cents. Earnings, adjusted for one-time gains and costs, came to 56 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The drug and medical device maker posted revenue of $2.96 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $2.79 billion.
Baxter expects full-year earnings in the range of $1.95 to $2.15 per share.
Baxter shares have risen 30% since the beginning of the year, while the S&P’s 500 index has risen nearly 7%.
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