Abbott slightly raises profit forecast on strong medical device sales
Abbott Laboratories (ABT) slightly lifted its annual profit forecast on Wednesday, after beating Wall Street estimates for quarterly earnings on strong sales of its medical devices including its glucose-monitoring products.
The company now expects a full-year profit of $4.64 to $4.70 per share, with the midpoint a tad higher than that of its earlier forecast of $4.61 to $4.71 per share.
On an adjusted basis, the company's quarterly profit of $1.21 per share beat analysts' average expectations of $1.20 per share, according to estimates compiled by LSEG.
(Reporting by Christy Santhosh and Leroy Leo in Bengaluru; Editing by Devika Syamnath)