Baxter International Inc. Q1 Profit Decreases, but beats estimates

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

The company's bottom line totaled $71 million, or $0.14 per share. This compares with $298 million, or $0.58 per share, in last year's first quarter.

Excluding items, Baxter International Inc. reported adjusted earnings of $471 million or $0.93 per share for the period.

Analysts on average had expected the company to earn $0.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.8% to $3.71 billion from $2.95 billion last year.

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

-Earnings (Q1): $71 Mln. vs. $298 Mln. last year. -EPS (Q1): $0.14 vs. $0.58 last year. -Analyst Estimates: $0.80 -Revenue (Q1): $3.71 Bln vs. $2.95 Bln last year.

-Guidance: Full year EPS guidance: Adj; $4.12 to $4.20