Abbott Shares Jump 7% Following Q1 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/ABT'>Abbott (NYSE:ABT)</a> shares surged more than 7% today after the company reported its Q1 results, with EPS of $1.03 coming in better than the Street estimate of $0.99. Revenue dropped 18% year-over-year to $9.75 billion (vs. Street’s $9.66 billion) as diagnostics revenue fell 49% to $2.69 billion.</p>
<p>Abbott's Chairman and CEO, Robert Ford, announced that the company's first-quarter results indicate a strong start to the year, with accelerated growth in its core businesses, including Medical Devices, Established Pharmaceuticals, and Nutrition.</p>
<p>For the full 2023 year, the company expects EPS to be in the range of $4.30-$4.50, compared to the Street estimate of $4.39. The company also expects at least high single-digit organic sales growth for 2023.</p>

NYSE:ABT