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Abbott Laboratories boosted its yearly profit prediction and topped Wall Street's expectations for second-quarter earnings.
Abbott Laboratories has raised its annual profit forecast and exceeded Wall Street estimates for second-quarter earnings, driven by robust sales of its cardiac and diabetes care devices.
In line with the industry trend, the company’s medical devices segment has seen a resurgence in sales of heart valves and pacemakers as more people, particularly older adults, are opting for surgeries deferred during the pandemic.
Abbott Laboratories has updated its full-year profit forecast to $4.61 to $4.71 per share, up from the previous forecast of $4.55 to $4.70 per share.
This optimistic outlook reflects the company’s confidence in its continued strong performance.
According to LSEG data, Abbott reported an adjusted profit of $1.14 per share for the quarter, which beat the analysts’ average estimate of $1.10 per share.
This positive financial performance highlights Abbott’s resilience and strategic focus on high-demand medical devices, positioning the company for sustained growth in the healthcare market.
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