Baxter: Q2 Earnings Snapshot

DEERFIELD, Ill. (AP) — DEERFIELD, Ill. (AP) — Baxter International Inc. (BAX) on Thursday reported a second-quarter loss of $141 million, after reporting a profit in the same period a year earlier.

The Deerfield, Illinois-based company said it had a loss of 28 cents per share. Earnings, adjusted for one-time gains and costs, were 55 cents per share.

The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.

The drug and medical device maker posted revenue of $3.71 billion in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $3.79 billion.

Baxter reported both continuing and discontinued operations during the quarter, including operations for a business for which a sale is pending.

If that sale is taken into account, adjusted per-share earnings were 66 cents, and revenue was $3.85 billion.

For the current quarter ending in September, Baxter expects its per-share earnings to range from 78 cents to 80 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.01.

The company expects full-year earnings in the range of $2.87 to $2.95 per share.

Baxter shares have dropped 4% since the beginning of the year, while the S&P's 500 index has increased 19%.

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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