Baxter exceeds own predictions in 2nd-quarter

17 July 2014

US drugmaker Baxter International (NYSE: BAX) reported strong growth across its global franchises in the second quarter of 2014, exceeding its own expectation and analysts’ forecasts. Shares of the company were barely changed at $76.60 in mid-morning trading.

The company posted net income down 11.8% to $520 million and earnings per diluted share were $0.95 in the second quarter, compared with a net income of $590 million and earnings per diluted share of $1.07 in the like quarter of 2013. Net adjusted income rose to $692 million, or $1.26 per share. Analysts on average had expected adjusted earnings of $1.22 per share.

Worldwide sales for the quarter were $4.3 billion, a 16% increase on the $3.7 billion from the second quarter of 2013, beating analysts’ expectations of $4.12 billion. Worldwide sales were strong, rising by 5%, but its US sales contributed heavily to the above-expected performance, and increased by 12% to $1.7 billion.

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