Bausch Health tops revenue estimates in latest quarter
Bausch Health Cos. Inc. shares rose 1.8% in premarket trade Tuesday, after the company, the former Valeant, beat revenue estimates for the third quarter. Bausch said it had a net loss of $350 million, or $1.00 a share, in the quarter, after earnings of $1.301 billion, or $3.69 a share, in the year-earlier period. It did not provide an adjusted EPS number. Revenue fell to $2.136 billion from $2.219 billion. The FactSet consensus was for EPS of 84 cents and revenue of $2.087 billion. The company said it's sticking with its full-year revenue guidance of $8.15 billion to $8.35 billion, compared with a FactSet consensus of $8.32 billion. Shares have gained 23.1% in 2018, while the S&P 500 has gained 2.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.