Abbott Q3 Results
Abbott (NYSE: ABT) shares fell before hours today due to third-quarter results that did not meet the consensus Wall Street forecast.
The company reported profits of $1.64 billion, equivalent to 94¢ per share, on sales of $11.37 billion for the three months ended September.
The bottom line dipped 0.1% year-over-year, despite a 6.9% sales increase. Adjusted earnings per share were $1.30, meeting Wall Street expectations.
Sales fell short of forecasts, with experts projecting $11.39 billion in revenue. However, Medical Device sales grew 15%.
Shares of ABT fell 2.7% to $129.10 apiece in pre-market trading and continued to dip by more than 3.2% to $128.35 by midday, before closing the day at $129.46 apiece.
No comment from the company is available at this time.
Author's summary: Abbott's Q3 results fell short of sales forecasts despite 15% growth in Medical Device sales.
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