DEERFIELD, Ill. (AP) — DEERFIELD, Ill. (AP) — Baxter International Inc. (BAX) on Thursday reported a first-quarter loss of $15 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Deerfield, Illinois-based company said it had a loss of 3 cents. Earnings, adjusted for one-time gains and costs, were 36 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The drug and medical device maker posted revenue of $2.7 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $2.6 billion.

Baxter expects full-year earnings in the range of $1.85 to $2.05 per share.

Baxter shares have dropped 12% since the beginning of the year, while the S&P’s 500 index has risen 4%.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BAX at https://www.zacks.com/ap/BAX