Abbott Labs: Q2 EPS down 24%

(CercleFinance.com) - Healthcare group Abbott Laboratories has reported Q2 2023 adjusted EPS from continuing operations that is down 24.
5% to $1.08, on revenues that fell 11.4% to just under $10bn.

Revenues fell under the weight of lower Covid-19 test sales, while underlying business grew organically by 11.5%, again driven by medical devices, established pharmaceuticals and nutrition.

Abbott Labs still forecasts 2023 adjusted EPS of $4.30 to $4.50, with improved prospects for its underlying businesses, although this is offset by a lower expected profit contribution from Covid-19 tests.


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