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Abbott Laboratories Reports Mixed Q3 Earnings

Tanzeel Akhtar

Abbott Laboratories (NYSE: ABT) reported third-quarter earnings of 84 cents per share, which met the analyst consensus estimate. This is a 12% increase over earnings of 75 cents per share from the same period last year.

The company reported quarterly sales of $8.076 billion, which missed the analyst consensus estimate of $8.11 billion by 0.42%. This is a 5.49% increase over sales of $7.656 billion the same period last year.

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"We're performing exceptionally well across several areas," said Miles White, CEO of Abbott. "We're right on track to achieve ongoing EPS and organic sales growth at the upper-end of our initial guidance ranges for the year."

Abbott Laboratories shares were trading down 1.8% at $80.50 in Wednesday’s pre-market session. The stock has a 52-week high of $88.76 and a 52-week low of $65.44.

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