Tags: Abbott | profit | nutrition | forecast

Abbott Profit Beats Forecast, Nutritional Products Strong

Wednesday, 17 Jul 2013 09:27 AM

Abbott Laboratories reported better-than-expected second-quarter earnings on Wednesday as strong demand for nutritional products offset lower sales of medical devices and generic prescription drugs.

Despite the earnings beat, Abbott left its full-year profit forecast unchanged at $1.98 to $2.04 per share.

The company, which in January spun off its branded prescription drugs business into a new company called AbbVie Inc., earned $476 million, or 30 cents per share, from continuing operations, compared with $411 million, or 26 cents per share, a year earlier.

Excluding special items, it earned 46 cents per share. Analysts, on average, expected 44 cents, according to Thomson Reuters I/B/E/S.

Revenue rose 2.5 percent to $5.45 billion, slightly below Wall Street expectations for $5.52 billion.

 

© 2017 Thomson/Reuters. All rights reserved.

 
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Abbott Laboratories reported better-than-expected second-quarter earnings on Wednesday as strong demand for nutritional products offset lower sales of medical devices and generic prescription drugs.
Abbott,profit,nutrition,forecast
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2013-27-17
Wednesday, 17 Jul 2013 09:27 AM
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