Bayer shares down despite beating 4th-qtr expectations

22 February 2017

Shares of German pharma and crop science major Bayer (BAYN: DE) were down 1.79% at 106.95 euros this morning, ahead of the firm’s annual financial results press conference taking place this morning.

Ahead of the meeting, Bayer released results showing that fourth-quarter 2016 net income plunged 26.1% to 453 million euros ($481.5 million) compared with the like, year earlier period. Earnings per share decreased to 0.53 euros from 0.74 euros last year.

In the fourth quarter, adjusted group earnings before interest, taxes, depreciation and amortization (EBITDA) rose 13.7% to 2.18 billion euros, beating the average estimate of 2.09 billion euros in a Reuters poll of analysts.

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