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4/20, 1:33 PM (Source: TeleTrader)
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Abbott Labs Q1 revenue tops estimates at $11.9B

Abbott Laboratories said on Wednesday its revenue expanded by 13.8% in the first quarter of 2022 compared to the same period a year ago to reach $11.9 billion. The company's net income surged 36.5% to $2.45 billion or $1.37 diluted earnings per share.

"Our diversified business continues to perform well in a challenging environment. We're particularly pleased with the strong performance we're achieving in Medical Devices and Established Pharmaceuticals," CEO Robert Ford noted.

Commenting on the outlook, Abbott projected full-year diluted earnings per share of at least $3.35. Abbott's stocks saw slight positive movement in premarket following the announcement.

Baha Breaking News (BBN) / ND