On Wednesday, Abbott Laboratories (ABT) reported an adjusted income of $1.02 per share on $9.84 billion in sales for the first quarter. This surpassed analysts’ estimates by The Street, which had forecast earnings of 95 cents per share and $9.88 billion in sales, according to FactSet.
During the same period last year, Abbott had earned $1.03 per share and reported $9.75 billion in sales. Looking ahead, the company narrowed its earnings guidance range for the year to between $4.55 and $4.70. Analysts are projecting earnings per share of $4.62 for the full year, while consensus views anticipate $1.12 in the second quarter alone, slightly below expectations with a range of $1.08 to $1.12.
In premarket trading on the stock market, Abbott’s stock initially rose by more than 2%, but then declined to a 0.7% loss before ending at a flat base with a buy point at 121.64 as indicated by MarketSurge