TNDM - Abbott Laboratories Surpasses Q4 Sales Expectations Despite Dip In COVID-19 Testing Demand | Benzinga
Abbott Laboratories (NYSE:ABT) posted higher sales of $10.24 billion in the fourth quarter, despite continued soft demand for the company’s Covid-19 testing equipment, beating the consensus of $10.18 billion.
Fourth-quarter sales increased 1.5% on a reported basis, 2.1% on an organic basis, and 11% on an organic basis excluding COVID-19 testing-related sales.
The company’s adjusted earnings were $1.19 a share, matching analysts’ expectations.
Diagnostics sales growth in the fourth quarter was negatively impacted by year-over-year declines in COVID-19 testing-related sales. Worldwide COVID-19 testing sales were $288 million in the fourth quarter of 2023 compared to $1.069 billion a year ago.
“The strength and diversity of ...