Categories AlphaGraphs, Health Care
Infographic: Abbott (ABT) reports Q2 2020 earnings
Weakness in medical devices unit hurt overall results in Q2
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.
Past performance
Also read: Abbott (ABT) could make a new 52-week high after upbeat Q2 results and rosier outlook
Most Popular
AVGO Earnings: Highlights of Broadcom’s Q4 2022 report
Chipmaker Broadcom, Inc. (NASDAQ: AVGO) Thursday reported better-than-expected earnings and revenues for the fourth quarter of 2022. Net profit was $10.45 per share in the final three months of the
COST Earnings: All you need to know about Costco Wholesale Corporation’s Q1 2023 earnings results
Costco Wholesale Corporation (NASDAQ: COST) reported first quarter 2023 earnings results today. Net sales increased 8.1% to $53.44 billion compared to the same period a year ago. Comparable sales were up
Three factors that bode well for Campbell Soup (CPB) in the current environment
Shares of Campbell Soup Company (NYSE: CPB) were up 1% on Thursday. The stock has gained 30% year-to-date and 34% over the past 12 months. The food company started the
