07:54 AM EDT, 05/02/2024 (MT Newswires) -- Bausch Health Companies ( BHC ) reported that its first quarter net loss narrowed as revenue rose.

The net loss was US$64 million, compared with US$201 million in last year's first quarter.

The quarter's first-quarter revenue of US$2.15 billion marked an 11% increase over last year's US$1.94 billion. Excluding the impact of foreign exchange, acquisitions, and divestitures and discontinuations, revenue increased 8%, Bausch said.

The healthcare company reported an adjusted profit of US$221 million, compared with Q1 2023's US$191 million.

Bausch Health ( BHC ) reaffirmed its 2024 revenue guidance of US$9.3 billion to US$9.55 billion.

Shares are 6.2% higher in U.S. premarket trade at US$9.29.