Baxter: Q4 Earnings Snapshot

Associated Press Finance
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DEERFIELD, Ill. (AP) — DEERFIELD, Ill. (AP) — Baxter International Inc. (BAX) on Thursday reported fourth-quarter profit of $245 million.

The Deerfield, Illinois-based company said it had net income of 48 cents per share. Earnings, adjusted for one-time gains and costs, came to 88 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The drug and medical device maker posted revenue of $3.89 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $3.8 billion.

For the year, the company reported net income of $2.66 billion, or $5.25 per share, swinging to a profit in the period. Revenue was reported as $14.81 billion.

Baxter expects full-year earnings to be $2.85 to $2.95 per share.

Baxter shares have risen roughly 2% since the beginning of the year, while the S&P's 500 index has increased almost 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

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