Abbott Laboratories stock was rising Wednesday after the maker of healthcare products reported strong earnings and revenue.
Sales declined slightly from the prior year, led by a 33% drop in diagnostics-segment revenue from 2022, and worldwide Covid-19 testing-kits sales were $305 million in the quarter compared with $1.67 billion a year ago. Newsletter Sign-up Abbott also narrowed 2023 adjusted earnings-per-share guidance to $4.42 to $4.46, lifting the midpoint to $4.44. In its second-quarter report, Abbott had guided 2023 earnings per share of $4.30 to $4.50, with a midpoint of $4.40.
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Abbott Labs shares rise as company beats earnings estimates, raises full-year guidanceEleanor Laise is a healthcare reporter for MarketWatch and is based in Washington.
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