What's Going On With Abbott Stock Today?

What's Going On With Abbott Stock Today?

Abbott Laboratories ABT shares are trading lower Wednesday after the company reported financial results.

Abbott said second-quarter revenue increased 10.1% year-over-year to $11.3 billion, which beat the estimate of $10.29 billion, according to data from Benzinga Pro. Global COVID-19 testing-related sales reached 2.3 billion in the second quarter. 

Abbott reported quarterly adjusted earnings of $1.43 per share, which beat the estimate of $1.12 per share.

"We achieved another quarter of strong growth and are raising our full-year EPS guidance," said Robert Ford, chairman and CEO of Abbott.

Abbott increased its full-year adjusted earnings guidance to "at least" $4.90 per share versus the estimate of $4.88 per share.

Related Link: Recap: Abbott Laboratories Q2 Earnings

Abbott manufactures and markets medical devices, adult and pediatric nutritional products, diagnostic equipment and testing kits and branded generic drugs.

ABT Price Action: Abbott has traded between $142.60 and $101.24 over a 52-week period.

The stock was down 3.31% at $106.29 at press time.

Photo: Grant is a Grant from Flickr.

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