July 17, 2014 / 11:42 AM / in 3 years

CORRECTED-Baxter earnings, sales beat estimates

(Corrects year-earlier net adjusted income figure in paragraph 2 to $659 million from $639 million. Also corrects year-ago per-share figure to $1.20 from $1.16)

July 17 (Reuters) - Medical device and drug maker Baxter International Inc reported higher-than-expected quarterly earnings and revenue, helped by surging sales in its medical products division.

Net adjusted income rose to $692 million, or $1.26 per share in the second quarter ended June 30, from $659 million, or $1.20 per share, a year earlier.

Revenue rose about 16 percent to $4.3 billion.

Analysts on average had expected adjusted earnings of $1.22 per share, excluding items, on revenue of $4.12 billion, according to Thomson Reuters I/B/E/S.

Deerfield, Illinois-based Baxter’s stock closed at $76.60 on the New York Stock Exchange on Wednesday. (Reporting by Natalie Grover in Bangalore; Editing by Maju Samuel)

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