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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Abbott Laboratories | NYSE:ABT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.051 | 0.04% | 116.861 | 117.44 | 116.07 | 117.10 | 1,373,544 | 17:47:53 |
From Dec 2023 to Dec 2024
By Will Feuer
Abbott Laboratories posted higher sales in the fourth quarter, despite continued soft demand for the company's Covid-19 testing equipment.
The Abbott Park, Ill.-based healthcare products company reported a profit of $1.59 billion, or 91 cents a share, up from $1.03 billion, or 59 cents a share, in the same period a year earlier.
Stripping out one-time items, adjusted earnings were $1.19 a share, matching analysts' expectations.
Revenue rose almost 2% to $10.24 billion, topping the $10.19 billion that analysts expected.
Adjusting for acquisitions and divestitures, and stripping out sales of the company's Covid-19 testing equipment, revenue rose 11%. Covid-testing sales were $288 million in the fourth quarter, down from $1.07 billion a year earlier.
For 2024, Abbott forecast adjusted earnings of $4.50 a share to $4.70 a share. Analysts expected $4.63 a share.
The company is targeting annual growth in organic sales, excluding Covid-related sales, of 8% to 10%.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
January 24, 2024 08:04 ET (13:04 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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