Abbott Laboratories Posts Big Drop in COVID-19 Testing Revenue
ABTAbbott(ABT) Investopedia·2024-07-19 02:33

Key TakeawaysSales at Abbott Laboratories' diagnostics unit dropped in the second quarter as demand for COVID-19 tests slumped.The company beat profit and sales estimates on strong sales of its medical devices.Abbott raised its full-year profit and organic sales growth outlooks. Shares of Abbott Laboratories (ABT) declined in intraday trading Thursday as the healthcare products maker’s sales of COVID-19 tests slumped with the pandemic ending. The company reported second-quarter adjusted earnings per share ( ...