Abbott Laboratories (ABT) announced its third-quarter earnings, revealing an increase from the same period last year and surpassing analysts' expectations.
The company's earnings for the quarter amounted to $1.646 billion, or $0.94 per share, compared to $1.436 billion, or $0.82 per share, in the same quarter a year ago.
When excluding certain items, Abbott Laboratories reported adjusted earnings of $2.119 billion, translating to $1.21 per share for the quarter.
Analysts, on average, had projected the company's earnings per share to be $1.20, according to data from Thomson Reuters, which typically does not account for special items.
The company's quarterly revenue saw a 4.9% increase, reaching $10.635 billion, up from $10.143 billion in the previous year.
Highlights from Abbott Laboratories' earnings report (GAAP):
- Earnings for the third quarter: $1.646 billion, compared to last year's $1.436 billion.
- Earnings per share (EPS) for the third quarter: $0.94, up from $0.82 last year.
- Revenue for the third quarter: $10.635 billion, compared to $10.143 billion in the prior year.
**Outlook**:
- Expected EPS for the next quarter ranges from $1.31 to $1.37.
- Full-year EPS is projected between $4.64 and $4.70.
