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.

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.