Baxter International Inc. (NYSE: BAX) saw its shares plummet 6.60% in pre-market trading on Thursday following the release of its second-quarter 2025 financial results, which fell short of analysts' expectations. The healthcare company's earnings report revealed disappointing figures across multiple key metrics, triggering a significant sell-off among investors.

For the second quarter, Baxter reported adjusted earnings per share (EPS) of $0.54, missing the IBES estimate of $0.61. The company's revenue came in at $2.81 billion, slightly below the expected $2.823 billion. Notably, Baxter's adjusted operating income for the quarter was $423 million, substantially lower than the IBES estimate of $452.3 million. These misses on both top and bottom lines have raised concerns about the company's performance and near-term growth prospects.

While Baxter provided a positive outlook for the third quarter and full year, with projected sales growth from continuing operations of 6% to 7% on a reported basis, it seems the guidance failed to alleviate investor worries. The company forecasts Q3 adjusted earnings from continuing operations, before special items, of $0.58 to $0.62 per diluted share, and full-year adjusted EPS of $2.42 to $2.52. However, these projections appear to have fallen short of market expectations, contributing to the sharp decline in Baxter's stock price during pre-market trading.