Abbott Laboratories Stock Gets a Boost From Q2 Earnings Beat

Abbott Laboratories (NYSE:ABT) stock was up on Wednesday following the release of its earnings report for the second quarter of 2018.

Abbott Laboratories Stock Gets a Boost From Q2 Earnings Beat

Abbott Laboratories reported earnings per share of 73 cents for the second quarter of the year. This is an increase over its earnings per share of 62 cents from the same time last year. It also beat out Wall Street’s earnings per share estimate of 71 cents for the quarter, making it a boon to ABT stock.

Net income reported by Abbott Laboratories for the second quarter of 2018 came in at $733 million. This is better than the company’s net income of $283 million that was reported in the second quarter of the previous year.

Abbott Laboratories also saw an increase to its operating income for the second quarter of the year. The company’s operating income for the period came in at $882 million. Operating income from the same period of the year prior was $386 million.

Abbott Laboratories’ earnings report for the second quarter of 2018 also includes lucky revenue of $7.77 billion. This is up from the company’s revenue of $6.64 billion that was reported in the second quarter of 2017. It was also good news for ABT stock by coming in above analysts’ revenue estimate of $7.71 billion.

The most recent earnings report from Abbott Laboratories also includes its guidance for the full year of 2018. The company says that it is expecting earnings per share for the year to range from $2.85 to $2.91. Wall Street is looking for earnings per share of $2.86 for the period.

ABT stock was up 2% as of Wednesday morning.

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


Article printed from InvestorPlace Media, https://investorplace.com/2018/07/abbott-laboratories-beats-q2-estimates/.

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