Abbott beats quarterly profit estimate on strong demand for diabetes devices

Reuters

Wed, Apr 16, 2025, 4:33 AM 1 min read

(Reuters) - Abbott Laboratories bushed Wall Street estimates for first-quarter nett connected Wednesday, buoyed by beardown request for diabetes attraction and different aesculapian devices.

The institution besides maintained its full-year nett forecast of $5.05 to $5.25 per stock successful the look of an escalating planetary commercialized war.

Abbott is apt to look a deed from the dense duties imposed connected different countries fixed its wide manufacturing footprint crossed the world, according to analysts.

The institution is besides investing $500 cardinal successful manufacturing and probe and improvement successful Illinois and Texas, with the projects expected to spell unrecorded by the extremity of the year. On an adjusted basis, the company's quarterly nett of $1.09 per stock bushed analysts' mean expectations of $1.07 per share, according to estimates compiled by LSEG.

Sales of continuous glucose monitors were $1.7 billion, up 18.3% from a twelvemonth ago.

(Reporting by Christy Santhosh and Puyaan Singh successful Bengaluru; Editing by Leroy Leo)