Baxter beats first quarter profit and revenue estimates
Baxter reported a first-quarter profit of 36 cents per share on revenue of 2.70 billion dollars. Strong demand for medical devices helped offset higher costs.
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BAXTER INTERNATIONAL INC reported Q1 adjusted profit of $0.36 per share, beating estimates of $0.31 as revenue reached $2.70 billion. Shares rose over 9% in United States premarket trading on Thursday after revenue surpassed the $2.62 billion expected by LSEG data. Strong demand for medical products is stabilizing the business despite manufacturing headwinds and a hold on infusion pump shipments.
