Abbott Reports Q1 Revenue of $10.36 Billion, Up 4% Year-Over-Year but Below Expectations

Gelonghui April 16 | Abbott announced its first-quarter results, with revenue increasing by 4% year-over-year to $10.36 billion, slightly below the analysts' expected $10.41 billion. Excluding one-time items, adjusted earnings per share were $1.09, compared to the expected $1.11. Global medical device sales grew by nearly 10%. The company's CEO stated that Abbott is able to address recent macroeconomic uncertainties through its diversified portfolio.

Additionally, Abbott expects second-quarter adjusted earnings per share to be between $1.23 and $1.27; maintains the forecast for 7.5% to 8.5% organic sales growth this year, with adjusted earnings per share expected to be between $5.05 and $5.25.