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
Ciena Corp., a provider of communications networking solutions, on Thursday reported a turnaround to profit in the fourth quarter on higher revenues and lower expenses. However results for the quarter missed analysts' estimates. Looking ahead, the company forecast revenue for the first quarter of fiscal 2017 in line with analysts' expectations. Wearable fitness device maker Fitbit Inc. said it has acquired the assets of struggling smartwatch startup Pebble, including key personnel and intellectual property related to software and firmware development. The acquisition excludes Pebble's hardware products. Financial terms of the deal were not disclosed. Starbucks is teaming up with Pokémon Go, a location based augmented reality game, to turn its stores into PokéStops and Gyms, reports said. Further, the coffee giant reportedly would open Italian bakeries that serve pizza, with the first store expected to open in late 2017.
comments powered by Disqus
Follow RTT