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Abbott Laboratories Earnings: ABT Stock Surges on Guidance, Q2 Beat

William White

Abbott Laboratories earnings for the company’s second quarter of 2019 has ABT stock heading higher on Wednesday.

Abbott Laboratories Earnings: ABT Stock Surges on Guidance, Q2 Beat

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Abbott Laboratories (NYSE:ABT) is increasing its guidance for 2019 after a strong second-quarter earnings report. This has it now expecting earnings per share for the year to come in between $3.21 and $3.27. That’s good news for ABT stock as Wall Street is looking for earnings per share of $3.22 for the year.

The positive outlook for 2019 is thanks to a strong earnings report for the second quarter of the year. This includes earnings per share coming in at 82 cents. This is an increase over the company’s earnings per share of 73 cents from the second quarter of 2018. It also beats out analysts’ earnings per share estimate of 80 cents for the quarter.

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To go along with that earnings per share beat from the most recent Abbott Laboratories earnings report is net income of $1.01 billion. This is up roughly 37% when compared to net income of $733 million reported in the same period of the year prior.

The Abbott Laboratories earnings report for the second quarter of 2019 also includes revenue of $7.98 billion. This is up roughly 3% from its revenue of $7.77 billion reported in the second quarter of the previous year. That has it missing Wall Street’s revenue estimates of $8.00 billion for the period, but it wasn’t keeping ABT stock down today.

ABT stock was up 3% as of Wednesday afternoon. The stock is also up 19% since the start of the year.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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