Abbott Q3 results come up shy of sales forecast, Medical Device sales grow 15%

Abbott Q3 Results Fall Short of Sales Forecast

Abbott (NYSE: ABT) shares dipped in pre-market trading after the company reported third-quarter results that fell short of the consensus Wall Street forecast.

The company reported profits of $1.64 billion, or 94¢ per share, on sales of $11.37 billion for the three months ended September. This represents a 0.1% year-over-year decrease in profits and a 6.9% increase in sales.

Adjusted earnings per share were $1.30, meeting Wall Street expectations. However, sales fell just shy of forecasts, with experts projecting $11.39 billion in revenue.

Shares of ABT fell 2.7% to $129.10 apiece in pre-market trading and continued to dip by more than 3.2% to $128.35 by midday, before closing the day back up slightly at $129.46 apiece.

Abbott’s Medical Device sales grew 15%.

Author's summary: Abbott's Q3 results miss sales forecast despite 15% growth in Medical Device sales.

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