Abbott Q3 Results Fall Short of Sales Forecast
Abbott (NYSE: ABT) shares dipped before hours today on third-quarter results that fell short of the consensus Wall Street forecast.
Shares of ABT fell 2.7% to $129.10 apiece in pre-market trading today and continued to dip by more than 3.2% to $128.35 by midday, closing the day back up slightly at $129.46 apiece.
The company reported profits of $1.64 billion, equaling 94¢ per share on sales of $11.37 billion for the three months ended Sept, with a bottom line dip of just 0.1% year-over-year on a sales increase of 6.9%.
Adjusted to exclude one-time items, earnings per share came in at $1.30, equaling expectations on Wall Street, while sales fell just shy of forecasts, with experts projecting $11.39 billion in revenue.
Medical Device sales grow 15%
Author's summary: Abbott's Q3 results miss sales forecast.