Abbott Laboratories earnings for the first quarter of 2019 have ABT stock down on Wednesday.
Abbott Laboratories reported earnings per share of 63 cents for the first quarter of the year. This is an increase over the company’s earnings per share of 59 cents from the same period of the year prior. It also beats out Wall Street’s earnings per share estimate of 61 cents for the quarter, but that couldn’t keep ABT stock from falling today.
The Abbott Laboratories earnings report for the first quarter of 2019 also includes net income of $672 million. This is up from the company’s net income of $418 million reported in the first quarter of 2018.
Abbott Laboratories earnings for the first quarter of 2019 have operating income coming in at $739 million. The health care company’s operating income reported during the same time last year was $608 million.
The most recent Abbott Laboratories earnings report has it bringing in revenue of $7.54 billion. This is better than the company’s revenue of $7.39 billion reported in the first quarter of the previous year. It also beats out analysts’ revenue estimate of $7.47 billion for the period, but was unable to stop ABT stock from dropping.
All of this is good news for Abbott Laboratories, but it’s stock is still down today. This may have to do with its 2019 guidance. Despite beating its own estimates for the quarter, the company didn’t increases its earnings per share guidance for the year.
ABT stock was down 4% as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.