Investing.com - Baxter (NYSE:BAX) reported third quarter earnings that missed analysts' expectations on Thursday and revenue that fell short of forecasts.
The firm reported earnings per share of $0.83 on revenue of $2.85B. Analysts polled by Investing.com anticipated EPS of $0.84 on revenue of $2.86B. That compared to EPS of $0.8 on revenue of $2.77B in the same period a year earlier. The company had reported EPS of $0.89 on revenue of $2.84B in the previous quarter.
Baxter shares lost 9.46% to trade at $79.61 in intra-day trade following the report.
Baxter shares lost 9.46% to trade at $79.61 in intra-day trade following the report.
For the year, Baxter shares are up 20.95%, broadly in line with the S&P 500 which is up 21.29% year to date.
Baxter follows other major Healthcare sector earnings this month
On Tuesday, October 15, 2019, J&J reported third quarter EPS of $2.12 on revenue of $20.73B, compared to forecasts of EPS of $2.01 on revenue of $20.08B.
Novartis ADR earnings beat analyst's expectations on Tuesday, with third quarter EPS of $1.41 on revenue of $12.17B. Investing.com analysts expected EPS of $1.33 on revenue of $11.71B
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