Baxter International Inc. (BAX) shares tumbled 7% in pre-market trading on Thursday following the release of its third-quarter earnings report, which revealed mixed results and a lowered full-year outlook.

The medical products company reported adjusted earnings per share of $0.69, beating the analysts' estimate of $0.60. However, Baxter's revenue fell short of expectations, coming in at $2.835 billion compared to the forecast of $2.875 billion. The company also posted a net loss of $46 million, or $0.10 per share, for the quarter.

Baxter's outlook for the remainder of the year appears to be a primary concern for investors. The company revised its full-year revenue growth projection to 4-5%, down from previous estimates. Additionally, Baxter lowered its full-year adjusted earnings per share guidance to a range of $2.35 to $2.40.

For the fourth quarter, Baxter expects revenue growth of 2% and adjusted earnings per share between $0.52 and $0.57. These projections suggest ongoing challenges for the company in the near term, likely contributing to the negative market reaction.

The pre-market plunge reflects investor disappointment with Baxter's performance and outlook. While the company managed to exceed earnings expectations, the revenue miss and reduced guidance paint a picture of potential headwinds in Baxter's core business segments. As the market opens, investors will be closely watching for any additional commentary from management regarding the company's strategies to address these challenges and return to stronger growth.