Baxter International Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Baxter International Inc. (BAX) announced a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $37 million, or $0.07 per share. This compares with $44 million, or $0.09 per share, in last year's first quarter.

Excluding items, Baxter International Inc. reported adjusted earnings of $333 million or $0.65 per share for the period.

Analysts on average had expected the company to earn $0.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.3% to $3.59 billion from $3.51 billion last year.

Baxter International Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $37 Mln. vs. $44 Mln. last year. -EPS (Q1): $0.07 vs. $0.09 last year. -Revenue (Q1): $3.59 Bln vs. $3.51 Bln last year.

-Guidance: Full year EPS guidance: $2.88 to $2.98