Abbott Q3 Results
Abbott (NYSE: ABT) shares fell 2.7% to $129.10 in pre-market trading after reporting third-quarter results that fell short of the consensus Wall Street forecast.
The company reported profits of $1.64 billion, or 94¢ per share, on sales of $11.37 billion for the three months ended September. This represents a 0.1% year-over-year decrease in profits and a 6.9% increase in sales.
Adjusted earnings per share were $1.30, meeting Wall Street expectations. However, sales fell short of forecasts, with experts projecting $11.39 billion in revenue.
Worldwide Medical Device sales drove the company's growth, increasing by 14.8% in the quarter.
Abbott's bottom line dipped just 0.1% year-over-year on a sales increase of 6.9%.
Author's summary: Abbott's Q3 results fell short of sales forecasts.
- Profits: $1.64 billion
- Earnings per share: 94¢
- Sales: $11.37 billion
- Medical Device sales growth: 14.8%