Abbott Laboratories (NYSE:ABT) has released its earnings report for the first quarter of 2017.
Revenue reported by Abbott Laboratories in the first quarter of the year was $$6.34 billion. This is an increase over its revenue of $4.89 billion that it reported in the first quarter of 2017. It also came in above Wall Street’s revenue estimate of $6.15 billion for the quarter.
During the first quarter of 2017, Abbott Laboratories reported earnings per share of 48 cents. This is up from its earnings per share of 41 cents that was reported during the same time last year. It also beat out analysts’ earnings per share estimate of 43 cents for the first quarter of the year.
Abbott Laboratories reported an operating loss of $202 million during the first quarter of 2017. This is a decrease from the operating income of $524 million that was reported during the same period of the year prior.
Net income reported by Abbott Laboratories was $419 million. The healthcare product developer and seller reported a net income of $316 million during the first quarter of the previous year.
Abbott Laboratories will also be paying a quarterly cash dividend to investors. This dividend will be 26.5 cents per share. It will be payable on May 15, 2017 to shareholders that were on record as of April 14, 2017.
Abbott Laboratories also says that its guidance for the full year of 2017 remains unchanged. It continues to expects earnings per share to range from $2.40 to $2.50 for the year. Wall Street is looking for the company to report earnings per share of $2.45 in 2017.
ABT stock remained largely unchanged as of Wednesday morning following the release of its Q1 earnings report.