Abbott Q3 Results
Abbott (NYSE: ABT) shares fell before hours today due to third-quarter results that fell short of the consensus Wall Street forecast.
Shares of ABT decreased by 2.7% to $129.10 in pre-market trading and continued to dip by more than 3.2% to $128.35 by midday.
The company reported profits of $1.64 billion, equal to 94¢ per share, on sales of $11.37 billion for the three months ended September.
Abbott's bottom line decreased by 0.1% year-over-year, while sales increased by 6.9%. Adjusted earnings per share were $1.30, meeting Wall Street expectations.
Sales were slightly lower than forecasted, with experts projecting $11.39 billion in revenue.
Worldwide Medical Device sales drove the company's nearly 7% sales growth, increasing by 14.8% in the quarter.
Author's summary: Abbott's Q3 results fell short of sales forecasts despite 15% Medical Device sales growth.
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