Abbott Stock Fluctuates Despite Q1 Earnings Surpassing Projections

On Wednesday, Abbott stock experienced fluctuations after the major healthcare company reported an adjusted income of 98 cents per share on $10 billion in sales for the first quarter. This surpassed projections by The Street, which had estimated earnings of 95 cents per share and $9.88 billion in sales, according to FactSet.

During the same period the previous year, Abbott Laboratories (ABT) had earned $1.03 per share and reported $9.75 billion in sales. Looking ahead, Abbott narrowed its earnings guidance range for the year to between $4.55 and $4.70. Analysts are projecting earnings per share of $4.62. The company’s second-quarter guidance fell slightly short of expectations, with a range of $1.08 to $1.12, while consensus views anticipate $1.12.

In premarket trading on the stock market, Abbott’s stock initially rose by more than 2%, but then declined to a 0.7% loss. Shares are currently forming a flat base with a buy point at 121.64, as indicated by MarketSurge.com