Abbott Labs tops Q1 expectations, raises low end of 2024 guidance range
ABBOTT PARK, Illinois (AP) — Abbott Laboratories reported a first-quarter profit of $1.23 billion Wednesday.
The company, based in Abbott Park, Illinois, posted net income of 70 cents per share. Earnings, adjusted for one-time gains and costs, were 98 cents per share.
The results surpassed Wall Street expectations by 2 cents, according to Zacks Investment Research.
The maker of infant formula, medical devices and drugs posted revenue of $9.96 billion in the period, also beating analyst forecasts of $9.85 billion.
Abbott raised the low end of its full-year earnings forecast by five cents. It now expects earnings in the range of $4.55 to $4.70 per share.
Abbott shares, up 10% this year, fell more than 3% Wednesday.
_____
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABT at https://www.zacks.com/ap/ABT
Related articles
Scammers stole more than $3.4 billion from older Americans last year, an FBI report says
WASHINGTON (AP) — Scammers stole more than $3.4 billion from older Americans last year, according to2024-05-01England cricket great Derek Underwood dies at age 78
LONDON (AP) — Derek Underwood, the England cricket great who is the most prolific spin bowler in the2024-05-01Early settlement of situation on China
BEIJING, March 13 (Xinhua) -- A Chinese foreign ministry spokesperson on Wednesday said that an earl2024-05-01Surging popularity of Chinese books at Bangkok Int'l Book Fair
Grabbing a book on Chinese culture, 52-year-old Akkrapol Mungnirandr was eager to read the character2024-05-01Selena's musician brother AB Quintanilla has on
A.B. Quintanilla III, the brother and music producer of slain Texas icon and singer Selena, was booe2024-05-01Conservationists give wings to black
(Xinhua) 16:47, April 09, 2024LHASA, April 9 (Xinhua) -- The black-necked cranes, a species under fi2024-05-01
atest comment