Share prices ticked up today in pre-market trading for Abbott (NYSE:ABT) after the healthcare giant posted sales and profits that beat the consensus forecast on Wall Street.
Chicago-area Abbott reported profits of $1.16 billion, or 34¢ per share, on sales of $6.83 billion for the three months ended Sept. 30, for a bottom-line gain of 31.1% on sales growth of 28.8% compared with Q3 2016.
Adjusted to exclude one-time items, earnings per share were 66¢, a penny ahead of The Street, where analysts were looking for sales of $6.72 billion.
“We’re very pleased with our performance and the steady cadence of innovative new product launches that are contributing to growth,” chairman & CEO Miles White said in prepared remarks. “We’re well-positioned to achieve the upper end of our initial full-year EPS guidance range.”
Abbott raised its full-year adjusted EPS guidance to $2.48 to $2.50 from $2.43 to $2.53 previously; fourth-quarter adjusted EPS are pegged at 72¢ to 74¢, the company said.
The news pushed ABT shares up 0.8% to $55.51 apiece today ahead of the open.
The post Abbott ticks up as Q3 tops Wall Street’s forecast appeared first on MassDevice.
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