07:53 AM EDT, 07/31/2024 (MT Newswires) -- Bausch + Lomb ( BLCO ) was at last look down more than 1% in US premarket after it reported Wednesday adjusted profit fell in the second quarter, even as revenue rose.

The eye health company said adjusted profit attributable to shareholders was US$45 million, compared with adjusted profit of US$65 million last year. And GAAP net loss attributable was $151 million, as compared to $32 million for the second quarter of 2023, an unfavorable change of $119 million. It said the change was primarily due to the increase in the provision for income taxes and interest expense and the decrease in operating results noted above

Total revenue rose to 17% US$1.2 billion, from US$1.03 billion. Adjusted EBITDA (non-GAAP) was $209 million as compared to $179 million for the second quarter of 2023, an increase of $30 million, primarily due to the increase in sales, partially offset by an investment in launch products, including MIEBO and XIIDRA.

The company also raised its 2024 revenue guidance to between US$4.7 billion and US$4.8 billion (previously US$4.6 billion to US$4.7 billion as of May 1, 2004). And raised full year Adjusted EBITDA to $850-900 million form $840-890 million.

Shares are down US$0.18 or more than 1% to US$16.69 in U.S. premarket trade.