Abbott Shares Rise on Second-Quarter Beat, Increased Guidance

Healthy earnings sent Abbott Laboratories (ABT) shares higher Wednesday, July 18.

The stock was up 2.7% to $64.58 in early trading after the healthcare company unveiled second-quarter results that exceeded expectations and increased its outlook.

The Abbott Park, Ill., company reported adjusted diluted earnings per share of 73 cents, up 17.7% from the year-ago period. Revenue rose 17% on a reported basis from 2017 to $7.8 billion.

Analysts expected, on average, adjusted EPS of 71 cents on $7.71 billion in revenue, according to FactSet Research Systems Inc.

"We forecast continued strong performance and are raising our full-year outlook despite recent currency shifts," Abbott chairman and CEO Miles D. White said in a statement.

For full-year 2018, Abbott now expects diluted EPS from continuing operations on a GAAP basis of $1.34 to $1.40, compared with the previous guidance of $1.23 to $1.33, and adjusted diluted EPS of $2.85 to $2.91, compared with the prior forecast of $2.80 to $2.90.

Abbott is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AAPL or GOOGL? Learn more now.

More from Investing

Lotteries Are for Losers: Kick the Habit and Become a Millionaire

Lotteries Are for Losers: Kick the Habit and Become a Millionaire

Bearish Bets: 2 Well-Known Stocks You Should Consider Shorting This Week

Bearish Bets: 2 Well-Known Stocks You Should Consider Shorting This Week

Alphabet's Waymo Is Moving Toward Self-Driving Semi Trucks

Alphabet's Waymo Is Moving Toward Self-Driving Semi Trucks

7 Bold Tech Stock Predictions for 2019

7 Bold Tech Stock Predictions for 2019

This 'Modern' Stock Market Needs to Change

This 'Modern' Stock Market Needs to Change