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Bausch & Lomb Corp.’s stock
BLCO,
soared 11% early Wednesday, after the vision care company . The company had a net loss of $54 million, or 15 cents a share, for the quarter, after a loss of $1 million in the year-earlier period. Adjusted per-share earnings came to 24 cents, ahead of the 17-cent FactSet consensus. Revenue rose to $1.173 billion from $996 million a year ago, also ahead of the $1.106 billion FactSet consensus. Chief Executive Brent Saunders said revenue growth in 2023 exceeded the company’s expectations and has set the tone for 2024. The company is now expecting 2024 revenue of $4.600 billion to $4.700 billion, while FactSet is expecting $4.550 billion. The stock has fallen 21% in the last 12 months, while the S&P 500
SPX,
has gained 24.5%.
