Abbott Laboratories (NYSE: ABT) announced Q3 results with sales of $10.4 billion, a decline of 4.7% year-over-year but surpassing analysts’ estimates by $750 million.
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Adjusted earnings came in at $1.15 per diluted share and surpassing Street estimates of $0.94. The medical devices and healthcare company also raised its FY22 guidance and now expects its earnings to range between $3.75 and $3.81 per share.
Robert B. Ford, Chairman, and CEO of Abbott stated, “Our results and increased guidance in the current macroeconomic environment reflect the strength of our diversified business model and execution. We’re particularly pleased with improving sales growth rates in U.S. Medical Devices, which is being fueled by several recent product launches, as well as continued strong performance in Established Pharmaceuticals.”