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.