Abbott raises earnings guidance due to boost in Covid-19 tests sales
Abbott Laboratories (NYSE: ABT) boosted its annual earnings guidance on Wednesday after posting strong quarterly revenue from sales of Covid-19 tests
Abbott Laboratories (NYSE: ABT) boosted its annual earnings guidance on Wednesday after posting strong quarterly revenue from sales of Covid-19 tests.
The health care company raised its full year revenue guidance to $6.1 billion from sales of Covid-19 tests this year.
Meanwhile, Abbott now expects adjusted earnings of at least $4.90 a share this year, up 20 cents from its previous forecast.
The company posted strong quarterly results due to high sales of Covid-19 test, including its at-home tests. The results were, though, affected by halt in production of its infant formulas after complaints about bacterial infections in infants who had consumed the products.
In the second-quarter, net sales of the company rose 10.1% to $11.26 billion, compared to $10.22 billion last year. Net sales also topped expectations of $10.3 billion, according to FactSet.
Picture Credits: Bloomberg News
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