Baxter: Q1 Earnings Snapshot

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DEERFIELD, Ill. (AP) — DEERFIELD, Ill. (AP) — Baxter International Inc. (BAX) on Thursday reported first-quarter profit of $37 million.

On a per-share basis, the Deerfield, Illinois-based company said it had net income of 7 cents. Earnings, adjusted for non-recurring costs and amortization costs, were 65 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The drug and medical device maker posted revenue of $3.59 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $3.55 billion.

For the current quarter ending in June, Baxter expects its per-share earnings to range from 65 cents to 67 cents.

The company expects full-year earnings in the range of $2.88 to $2.98 per share.

Baxter shares have climbed slightly more than 4% since the beginning of the year, while the S&P's 500 index has increased 5%.

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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