Shares of Abbott Laboratories (ABT) rose ahead of the market open on Wednesday, Jan. 24, after the healthcare firm reported fourth-quarter results that exceeded analysts' estimates.
Shares were trading at $60.70, up 2.5%.
With Abbott's stock up more than 50% in 2017, "investors were mixed heading into 4Q earnings and 2018 guidance event," Evercore ISI analyst Vijay Kumar wrote in a note. "ABT did not disappoint, and the 4Q print was impressive across the board."
Abbott reported adjusted diluted earnings per share from continuing operations of 74 cents on revenue of $7.6 billion. Analysts had forecast adjusted EPS of 73 cents on revenue of $7.38 billion, according to Bloomberg.
For 2018, the Abbott Park, Ill., company projected adjusted EPS from continuing operations of $2.80 to $2.90.
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