Abbott Q3 Results Fall Short of Sales Forecast
Abbott (NYSE: ABT) shares declined before hours due to third-quarter results that failed to meet the consensus Wall Street forecast.
Shares of ABT fell 2.7% to $129.10 in pre-market trading and continued to dip by 3.2% to $128.35 by midday, closing at $129.46.
The company reported profits of $1.64 billion, or 94¢ per share, on sales of $11.37 billion for the three months ended September, with a 0.1% year-over-year decrease in bottom line and a 6.9% sales increase.
Adjusted earnings per share were $1.30, meeting Wall Street expectations, but sales fell short of the projected $11.39 billion in revenue.
Abbott's Medical Device sales grew 15%.
No comment from the company is provided in the given text.
Author's summary: Abbott's Q3 results fell short of sales forecast.