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Here's why Abbott Labs stock is getting dinged after a strong earnings beat

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Abbott Laboratories News

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Shares are even more attractive when we consider the company's pipeline.

Abbott Labs delivered a second-quarter earnings beat on Thursday, but the company's ongoing litigation over its baby formula — plus softer guidance for the current quarter — is dragging down shares. We view the pullback as an opportunity. Revenue for the three months ended June 30 rose 4% year over year to $10.38 billion, slightly ahead of expectations, according to LSEG. On an organic basis, sales were up 9.3% versus the year-ago period , also ahead of expectations.

Abbott Chairman of the Board and CEO Robert B. Ford delivers a keynote address at CES 2022 at The Venetian Las Vegas on January 6, 2022 in Las Vegas, Nevada.delivered a second-quarter earnings beat on Thursday, but the company's ongoing litigation over its baby formula — plus softer guidance for the current quarter — is dragging down shares. We view the pullback as an opportunity.

 

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