logo
Share SHARE
FONT-SIZE Plus   Neg

Abbott Q2 Profit Beats Estimates; Confirms FY13 EPS Guidance

Abbott (ABT) reported that its second-quarter net earnings from continuing operations increased to $476 million or $0.30 per share, from $411 million or $0.26 per share last year. Net earnings from continuing operations excluding specified items was $724 million or $0.46 per share, compared to $689 million or $0.43 per share, last year. Net earnings for the quarter was $476 million or $0.30 per share, compared to $1.73 billion or $1.08 per share last year.

On average, 22 analysts polled by Thomson Reuters expected the company to report profit of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales rose to $5.45 billion from $5.31 billion last year. Analysts expected revenue of $5.52 billion for the quarter.

Reported sales increased 2.5 percent, including an unfavorable 1.7 percent effect of foreign exchange. Sales were driven by 8.4 percent operational sales growth in Nutrition, including 18.4 percent international growth, and 7.6 percent operational sales growth in Diagnostics, the company said. Excluding foreign exchange, worldwide sales increased 4.2 percent.

Abbott confirmed its ongoing earnings-per-share guidance for the full year 2013 of $1.98 to $2.04. Abbott forecasts net specified items for the full year 2013 of approximately $0.59 per share. Including these net specified items, projected earnings per share from continuing operations would be $1.39 to $1.45. Analysts expect the company to report fiscal 2013 profit per share of $2.01.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amazon-owned Twitch plans to start selling game downloads from players' live broadcasts. The platform will allow its around 17,000 game-broadcasting partners to sell games and in-game content directly from their pages when they are live-streaming gameplay, starting this spring. Women's specialty-clothing retailer J. Jill Inc. said it has launched an initial public offering of 11.67 million shares of its common stock. All shares are being sold by an existing stockholder and J. Jill will not receive any proceeds from the offering. Long queues at peak dining hours at Wendy's may be a history, as the company is planning to introduce automated self ordering kiosks at its more than 1000 retail locations by this year end. The automation will also help in cutting labor costs.
comments powered by Disqus
Follow RTT