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 |
China Energy's massive hydropower station to open in March 2024More than 85,000 freight train trips connect China to EuropeTwo crews set for Tiangong station in '23What Chinese modernization means for multinationals eyeing new opportunities in China?China's mega water diversion project benefits over 150 mln peopleThe 134th Canton Fair attracted overseas purchasers for new energy vehiclesMobile World Congress 2023 sees strong return of Asian participants(BRF2023) Xi Meets Kazakh PresidentWMC to exhibit Anhui's manufacturing prowessConstruction machinery maker to lift production targets; eyes green model