Abbott Laboratories Q2 Earnings: Revenue And Profit Beat Estimates, Nudges Up Annual Profit Guidance On Strong Medical Devices Growth
Portfolio Pulse from Vandana Singh
Abbott Laboratories (NYSE: ABT) reported Q2 earnings with revenue and profit beating estimates. The company raised its annual profit guidance due to strong growth in Medical Devices. Despite a decline in COVID-19 testing sales, other segments like Nutrition and Medical Devices showed significant growth. Abbott also announced FDA approval for new glucose monitoring systems and ten new growth opportunities from its pipeline.
July 18, 2024 | 1:54 pm
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Abbott Laboratories reported strong Q2 earnings, beating revenue and profit estimates. The company raised its annual profit guidance due to robust growth in Medical Devices, despite a decline in COVID-19 testing sales. FDA approval for new glucose monitoring systems and new growth opportunities were also announced.
Abbott's strong performance in Medical Devices and raised profit guidance are positive indicators for the stock. The decline in COVID-19 testing sales is offset by growth in other segments. FDA approvals and new growth opportunities further bolster the company's outlook.
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