Abbott Reports Q3 Earnings: Global Diagnostics Sales Reach $1.8 Billion; Chinese IVD Firms' Profitability Compared

The financial report shows that, thanks to the company's outstanding execution capabilities and rich product line.This quarter, Abbott’s four core business segments—nutrition, diagnostics, pharmaceuticals, and medical devices—all performed exceptionally well.Abbott has consistently met and exceeded Wall Street expectations for over a decade. The company reported strong sales this quarter, with double-digit growth in earnings per share. Abbott’s stock price has doubled since January 2017.

In the third quarter, Abbott's global sales reached$7.7 billion, year-on-year increase7.8%, with earnings per share continuing to grow by 13.6%. Abbott narrowed its full-year adjusted diluted earnings per share guidance to $2.87–$2.89.

Abbott's Diagnostic Business Sales Reached in the Third Quarter$1.8 billion (approximately RMB 12.478 billion), year-on-year growth7.5%Sales of the Alinity system, which offers next-generation core laboratory diagnostic solutions, accelerated with an 8.1% increase. As a core business within Abbott’s molecular diagnostics market,Infectious Disease Testingalso demonstrated strong growth, with sales of molecular diagnostic products increasing by 6.1%. Driven by robust global sales growth of Abbott’s handheld blood analyzer, the i-STAT System, sales in the point-of-care testing business rose by 4.0%. Global sales in the rapid diagnostics business reached $481 million.

Mr. Robert Ford, Chairman and Chief Executive Officer of Abbott, stated: “This quarter, all of Abbott’s business segments demonstrated strong growth, and our new product portfolio is robust and well-balanced. Despite the adverse impact of currency fluctuations, we are in a favorable market position with strong momentum, and we remain confident in achieving our high expectations for full-year performance growth.”

In the golden autumn of October, in addition to international major brands, China's listed IVD companies also announced their performance (forecasts) for the first three quarters of 2018.（(The remaining listed IVD companies have not yet disclosed their results.)

As shown in the figure below, from the perspective of reported net profit, Lepu Medical's net profit increased by 54.89% year-on-year; of course, if IVD is regarded as the core business,Wondfo BiotechRanked first, net profit year-on-yearIncreased40%-50%; meanwhile, Tianrui Instruments reported a year-on-year change in net profitReduction of 20%-30%。