Abbott posts higher quarterly revenue on strong medical device demand
Total revenue rose 7.1 per cent to US$11.4 billion
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[WASHINGTON] Abbott reported higher quarterly revenue on Wednesday (Oct 15), driven by strong demand for its medical devices including continuous glucose monitors and heart devices.
Investor confidence in medical device makers has climbed in recent quarters, underpinned by robust demand for surgical procedures, particularly among older adults.
Total revenue rose 7.1 per cent to US$11.4 billion.
On an adjusted basis, third-quarter profit per share of US$1.30, in line with analyst’s average estimate, according to data compiled by LSEG.
The company now expects annual adjusted profit between US$5.12 and US$5.18 per share, compared to its previous range of US$5.10 to US$5.20.
Its medical devices segment, which sells heart and diabetes care devices, posted sales of US$5.45 billion, beating estimates of US$5.34 billion. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Middle East-linked energy supply shocks put Asean Power Grid back in focus
From intern to C-suite: JPMorgan’s Teresa Heitsenrether on building a fully AI-powered ‘megabank’
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Prime Orchard condo High Point takes fifth stab at en bloc sale with S$580 million asking price
