Abbott Laboratories Sales Rise, Lifts Full-Year Outlook -- Earnings Review

   By Aisha Al-Muslim

Abbott Laboratories (ABT) reported its second-quarter results before the opening of trading Wednesday. Here's what you need to know.

PROFIT: Net income for the global health-care company was $733 million, or 41 cents a share, compared with $283 million, or 16 cents a share, for the same quarter a year before. Adjusted earnings were 73 cents a share, beating the 71 cents a share analysts polled by Thomson Reuters were looking for.

REVENUE: Net sales rose 17% to $7.77 billion, ahead of the consensus forecast of $7.71 billion.

GUIDANCE: For 2018, the company raised its guidance for adjusted earnings per share to between $2.85 and $2.91 from between $2.80 to $2.90. Analysts had forecast adjusted earnings of $2.86 a share.

For the third quarter, the company guided adjusted earnings per share between 73 cents and 75 cents, compared with analysts' estimates of 74 cents a share.

STOCK MOVE: Shares rose 1.9% to $64 in premarket trading Wednesday. Shares are up 29% in the last year.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

July 18, 2018 08:29 ET (12:29 GMT)

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