Abbott's Q3 Results Fall Short of Sales Forecast
Abbott (NYSE: ABT) shares declined before hours due to third-quarter results that did not meet the consensus Wall Street forecast.
Shares of ABT fell 2.7% to $129.10 in pre-market trading and continued to dip by 3.2% to $128.35 by midday, closing the day at $129.46.
The company reported profits of $1.64 billion, or 94¢ per share, on sales of $11.37 billion for the three months ended September, with a 0.1% year-over-year decrease in bottom line and a 6.9% sales increase.
Adjusted earnings per share were $1.30, meeting Wall Street expectations, but sales fell short of forecasts, with experts projecting $11.39 billion in revenue.
Medical Device sales grew 15%, a notable highlight in the quarter.
No comment from the company is available at this time.
Author's summary: Abbott's Q3 results miss sales forecast despite 15% Medical Device sales growth.
More News
- Manchester United’s stance on Kobbie Mainoo leaving Old Trafford in January revealed
- Fabrizio Romano has terrible news for Tottenham midfielder
- TBA, Appraisal, Reverse Mortgage Tools; STRATMOR on AI and Competition; Can the CFPB be Willed Away?
- The Myths of Camp David
- Signing, Borrower Retention, LOS, QC Audit, AVM Tools; Slowing Economy = Lower Rates
- Borrower Monitoring, AI Processing, DPA, Verification Tools; Events and Training; Robots Will do What?
- EU Updates Age Verification Standards for Minors