Abbott Stock Gains On Q3 Performance, 10% Organic Diagnostics Revenue Growth, Raised Annual Outlook
Portfolio Pulse from Vandana Singh
Abbott Laboratories reported Q3 FY23 adjusted EPS of $1.14, beating the consensus of $1.04. Q3 sales of $10.1 billion decreased 2.6%, beating the consensus of $9.32 billion. Despite a decrease in COVID-19 testing-related sales, the company saw growth in its four major businesses. Abbott has raised its FY23 adjusted EPS outlook to $4.42-$4.46 from $4.30-$4.50. ABT shares are up 4.27% in premarket trading.
October 18, 2023 | 1:25 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Abbott Laboratories reported better than expected Q3 results and raised its FY23 outlook, leading to a 4.27% increase in premarket trading.
Abbott Laboratories reported strong Q3 results, beating consensus estimates for both EPS and sales. Despite a decrease in COVID-19 testing-related sales, the company saw growth in its four major businesses. The company also raised its FY23 outlook, which is a positive signal for investors. As a result, ABT shares are up in premarket trading, indicating a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100