Shares of Bausch Health Companies Inc (BHC) soared 7.27% in after-hours trading on Wednesday following the release of its better-than-expected third-quarter earnings report. The pharmaceutical company's strong financial performance exceeded analyst estimates, driving investor enthusiasm.
Bausch Health reported quarterly earnings of $1.16 per share, surpassing the analyst consensus estimate of $1.13 by 2.38%. This represents a notable improvement from the same period last year when the company posted earnings of $1.12 per share. Additionally, Bausch Health's quarterly sales reached $2.681 billion, beating the analyst consensus estimate of $2.637 billion by 1.66%. The company's revenue showed a solid 6.81% increase compared to $2.510 billion in the same quarter of the previous year.
The impressive earnings results demonstrate Bausch Health's ability to navigate challenges in the pharmaceutical industry and deliver growth. Investors appear to be reacting positively to the company's financial strength and operational efficiency. As the stock market digests this information, it will be interesting to see if Bausch Health can maintain this momentum in the coming trading sessions.
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