Reuters
Bayer on Tuesday reported a marginal decline in its adjusted earnings in the first quarter, but beat analysts' forecasts on better-than-expected performance at its prescription drugs and agriculture divisions. The company's quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-off items, slipped to 4.41 billion euros ($4.76 billion), but came in above an average analyst estimate of 4.15 billion euros posted on the company's website. "The Pharmaceuticals Division saw gains in growth and profitability, and the Crop Science Division outperformed in a difficult market," Bayer said in a statement.