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

The Good Times Keep Rolling for Tilray as Stock Jumps on New Partnership

The Good Times Keep Rolling for Tilray as Stock Jumps on New Partnership

Remember, the Federal Reserve Is an Independent Body

Remember, the Federal Reserve Is an Independent Body

How to Trade Lululemon After Its Meteoric Rise

How to Trade Lululemon After Its Meteoric Rise

Tesla Stock Is Rallying Again But You Must Watch Moves in This Market

Tesla Stock Is Rallying Again But You Must Watch Moves in This Market

Trump vs. the Federal Reserve: Don't Expect 15% Inflation and Soaring Rates

Trump vs. the Federal Reserve: Don't Expect 15% Inflation and Soaring Rates