
Abbott Labs Beats Earnings Estimates Due To Medical Device Sales
The Chicago-based healthcare company announced Q1 earnings per share (EPS) of $0.98 U.S. compared to $0.95 U.S. that was expected among analysts, according to LSEG data.
Revenue in the January through March quarter totaled $9.96 billion U.S. versus $9.88 billion U.S. that had been forecast on Wall Street.
The company said that its medical device sales amounted to $4.45 billion U.S., with sales of its glucose monitor“FreeStyle Libre” generating $1.5 billion U.S. in revenue.
Analysts had anticipated medical device sales of $4.30 billion U.S. in the quarter.
Abbott Labs' medical device sales have grown in recent quarters due to a resurgence in demand for joint replacements and other surgeries that were delayed during the pandemic.
In terms of forward guidance, the company said that it now expects a full-year profit of $4.55 U.S. to $4.70 U.S. per share. Wall Street had expected a profit of $4.60 U.S. a share.
The stock of Abbott Laboratories has increased 5% over the last 12 months to trade at $109.21 U.S. a share.
- About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- Manuka Honey Market Report 2024, Industry Growth, Size, Share, Top Compan...
- Modular Kitchen Market 2024, Industry Growth, Share, Size, Key Players An...
- Acrylamide Production Cost Analysis Report: A Comprehensive Assessment Of...
- Fish Sauce Market 2024, Industry Trends, Growth, Demand And Analysis Repo...
- Australia Foreign Exchange Market Size, Growth, Industry Demand And Forec...
- Cold Pressed Oil Market Trends 2024, Leading Companies Share, Size And Fo...
- Pasta Sauce Market 2024, Industry Growth, Share, Size, Key Players Analys...
Comments
No comment