Abbott Q3 results come up shy of sales forecast, Medical Device sales grow 15%

Abbott Q3 Results Fall Short of Sales Forecast

Abbott (NYSE: ABT) shares declined before hours due to third-quarter results that did not meet the consensus Wall Street forecast.

The company reported a profit of $1.64 billion, equivalent to 94¢ per share, on sales of $11.37 billion for the three months ended September.

Abbott's bottom line decreased by 0.1% year-over-year, despite a 6.9% increase in sales. Adjusted earnings per share were $1.30, meeting Wall Street expectations.

However, sales were slightly below forecasts, with experts projecting $11.39 billion in revenue. Medical Device sales grew 15%.

Shares of ABT fell 2.7% to $129.10 apiece in pre-market trading and continued to decline by more than 3.2% to $128.35 by midday, before closing the day at $129.46 apiece.

No comment from the company is available at this time.

Author's summary: Abbott's Q3 results fell short of sales forecast expectations.

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