Baxter Stock Slides After Q3 Sales Disappoint
Baxter (NYSE: BAX) shares fell over 16% to $18.82 in early trading after the company reported Q3 sales that failed to meet Wall Street's consensus forecast.
- Net losses: $46 million (9¢ per share)
- Sales: $2.84 billion (5% increase from the same period last year)
- Adjusted earnings per share: 69¢ (9¢ ahead of expectations)
- Medical Products & Therapies sales: $1.33 billion (1% decline)
The company's bottom line slid 132% into the red compared to the same period last year.
No comment from the company was provided on the sales disappointment.
Author's summary: Baxter's Q3 sales fell short of expectations.
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