Why Baxter International Stock Is Tumbling Today
Shares of Baxter International (NYSE: BAX) were tumbling 8.8% lower as of 11:24 a.m. ET on Thursday after falling as much as 11.8% earlier in the day. The decline came after the healthcare company announced its second-quarter financial results.
Baxter reported Q2 revenue of $3.75 billion, up 21% year over year. However, this missed the consensus Wall Street revenue estimate of $3.88 billion. The company posted Q2 adjusted earnings per share of $0.87, in line with the average estimate of analysts surveyed by Refinitiv.
At first glance, Baxter's Q2 results look solid. So why did the healthcare stock sink so much? There's more to the story.
Source Fool.com
