Baxter rises on growth in emerging markets
Baxter International's bets in emerging markets pay off during the 2nd quarter with growth in plasma sales.
Baxter (NYSE:BAX) reported modest growth in sales and a healthy surge in profit during the 2nd quarter, which the company attributed partially to increasing demand for its plasma products in emerging markets.
The global healthcare giant posted $661 million in profit, or $1.19 per diluted share, during the 3 months ended June 30. That's a 7.5% jump in earnings and a 11.2% increase in per-share value over the $615 million, or $1.07 per share, reported during the same period last year.
Sales grew a modest 1% to $3.57 billion, compared with $3.54 billion in sales during the 2nd quarter of 2011.