Abbott Labs Misses Revenue Estimates, Trims Profit Forecast | 4/27/2018 | Staff
cute16 (Posted by) Level 3
(Reuters) – Medical device maker Abbott Laboratories reported quarterly revenue that fell just short of Wall Street estimates and trimmed the upper end of its full-year earnings forecast on Wednesday, sending its shares down 2%.

The miss was mainly due to the company’s flagship cardiovascular unit. The business reported sales of $2.40 billion, below estimates of $2.44 billion, according to two analysts polled by Refinitiv.

Gains - Fast-growing - Diabetes - Care - Business

That offset gains in its fast-growing diabetes care business. The unit posted revenue of $665 million in the third quarter, topping estimates of $645 million. The beat was powered by a...
(Excerpt) Read more at:
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!