:max_bytes(150000):strip_icc()/GettyImages-2163744801-84829cb23f204afc82fcad1ccf25626f.jpg?w=1920&resize=1920,1440&ssl=1 "Abbott Labs Stock Jumps on Strong Earnings, With 0M Investment in US Facilities")
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key takeaways
- The shares of Abbott Laboratories rose on Wednesday when the company reported the first quarter earnings, with the top of analysts’ estimates.
- The medical device manufacturer also said that it plans to invest $ 500 million in Illinois-and Texas-based features.
- Stock has added about one-fourth of its value in the last 12 months.
In the shares of Abbott Laboratories (ABT), on Wednesday, the medical device manufacturer said that it tops American operations with its first quarter results with the expectations of $ 500 million and Wall Street’s expectations.
The company said on Wednesday that two new manufacturing and R&D facilities in Texas and Illinois are set to open this year. A spokesperson said Abbott has expected to hire 200 people in Illinois and 100 people in Texas.
Abbott shares were close to 4% in the recent trading, making the stock one of the top daily artists of S&P 500. He has added one-fourth of his value in the last 12 months.
Abbott reported the first quarter revenue of $ 10.4 billion for the first time, in line with the consensus of an analyst with a 4% year-by-year and broadly visible alpha. A year ago, topping the estimates of Wall Street, compared to $ 1.73 billion, or $ 1.09 per share, compared to $ 1.73 billion or 98 cents per share. The sales of the medical device rose by 10% to $ 4.9 billion, as well as defeated expectations.
Further, Abbott maintained an estimate of his full-year adjusted income (EPS) $ 5.05 to $ 5.25, vs. $ 5.16’s consensus. CEO Robert Ford said that Abbott Labs had considering extending its EPS Outlook before the recent announcements of the Trump administration on tariffs before the recent announcements of the Trump administration.
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