Abbott Reports Third-Quarter Sales of $13.01 Billion, Up 14.5%
Abbott's comparable sales growth was 7.0%; reported diagnostics sales rose 46.7%.
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12:16:33 PM UTC
SquawkNews
By Connor HartAbbott reported higher sales in the latest quarter, though profit fell as operating costs and expenses increased.The healthcare company on Wednesday posted a third-quarter profit of $920 million, or 53 cents a share, down from $1.64 billion, or 94 cents a share, a year earlier.Strippi…
Abbott's third-quarter sales jumped 14.5% to $13.01 billion, but the headline number tells only part of the story. On a comparable basis, which strips out the Exact Sciences acquisition completed in March, growth comes in at 7.0%. The diagnostics business saw reported sales surge 46.7%, largely ref…