Better-than-expected Q3 for Abbott Laboratories
Abbott Laboratories has reported better than expected third quarter financial results. The global healthcare company focuses on diagnostics, medical devices, nutritionals and branded generic pharmaceuticals.
Worldwide sales this quarter increased by 4.3% to US $5.4 billion on an operational basis, with strong performances in the areas of diagnostics and medical devices. However, the company saw a sales reduction of nearly 2% following a disruption in International Nutrition.
Sales for all sectors in the developed markets during the third quarter came to $3.2 billion, which is an increase of 1.8%, while sales in the emerging markets increased 8.1% to $2.2 billion.
“We continued to have strong earnings performance, in spite of a supplier recall that impacted our International Nutrition business. Today we also are announcing a significant increase in our quarterly dividend.”
Miles D. White, chairman and chief executive officer, Abbott.
Following these results, Abbott has confirmed its full-year 2013 ongoing earnings-per-share guidance range of $1.98 – $2.04, reflecting double-digit growth.
Abbott’s spin-off pharmaceutical business, AbbVie, will report its third quarter earnings next week.
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