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Shares of Abbott Laboratories (ABT) fell in intraday trading Wednesday, with second-quarter guidance seeming to outweigh first-quarter results that beat analyst estimates.
Pre-market futures are up slightly at this hour. Markets look to rebound off a three-day losing streak on the S&P 500 and Nasdaq; the blue-chip Dow outperformed the field yesterday, closing +0.17%.
Late March highs -- including all-time S&P levels -- have given way to profit-taking and existential concerns.
Abbott (ABT) delivers double-digit organic sales growth in its underlying base business in the first quarter of 2024.
Although the revenue and EPS for Abbott (ABT) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Abbott (ABT) came out with quarterly earnings of $0.98 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $1.03 per share a year ago.
Abbott Laboratories on April 17 reported a 2.2% rise of $10 billion in its 2024 first-quarter sales which includes the impact of the anticipated decline in COVID-19 testing-related sales as compared to the previous year. Organic sales grew for the underlying base business of 10.8%, which represents the fifth consecutive quarter of double-digit growth.
Healthcare-products firm Abbott Laboratories' first-quarter earnings beat expectations, but second-quarter guidance was light.
Abbott Laboratories on Wednesday reported first-quarter sales and profit that topped expectations amid strength in its medical-device business. The healthcare-products company reported first-quarter net income of $1.225 billion, or 70 cents per share, versus $1.318 billion, or 75 cents per share, a year earlier.
Abbott Laboratories beat Wall Street estimates for quarterly profit on Wednesday and raised the lower end of its forecast, as robust demand for medical procedures boosted sales of its devices, including its glucose-monitoring products.