Abbott Laboratories (NYSE: ABT) reported second-quarter financial results before the regular trading hours on Thursday. Revenue for the quarter fell 8% to b $7.3 billion, while adjusted EPS declined 31% to $0.57.
However, the results were stronger than street projections, which sent the stock up 1% during pre-market hours. The stock has gained 11% since the beginning of this year.
The largest Medical Devices unit was the worst hit, where sales dropped 21%, as hospitals postponed various surgeries to cater to COVID patients. Earlier today, rival Johnson & Johnson (NYSE: JNJ) also reported a massive 35% decline in quarterly earnings, hurt by weakness in the medical devices segment.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard