Shares of Bausch Health Companies Inc (BHC) plummeted 6.82% in Wednesday's intraday trading session following the release of its second-quarter earnings report. The pharmaceutical company's stock took a hit after reporting earnings that fell short of analyst expectations, despite beating revenue forecasts.

Bausch Health reported adjusted earnings per share (EPS) of $0.91, missing the analyst consensus estimate of $0.96 by 5.21%. This figure also represents a 7.14% decrease from the $0.98 per share earned in the same period last year. The earnings miss appears to be the primary driver behind the stock's significant decline.

On a more positive note, the company's quarterly sales came in at $2.530 billion, surpassing the analyst consensus estimate of $2.481 billion by 1.96%. This represents a 5.29% increase compared to sales of $2.403 billion in the same quarter of the previous year. However, the strong sales performance was not enough to offset investor concerns about the earnings shortfall, as evidenced by the sharp drop in stock price.