Abbott Laboratories announced quarterly earnings growth, mainly due to strong demand for coronavirus tests, and a recovery in medical device sales.
Abbott, which provides coronavirus diagnostic kits and facilities, benefited from increased demand for the tests as Omicron’s cases reached record levels in January.
again, the company kept its earnings estimates for the year unchanged.
Coronavirus diagnostic tests generated $ 3.3 billion in revenue in the quarter, boosting total sales in diagnostic activities, which rose 31.7% on a published basis.
Abbott now forecasts $ 4.5 billion in sales from coronavirus tests for the full year, with most of them expected to take place in the first half of the year.
The company reiterated that it expects the adjusted earnings per share for 2022 to reach at least 4.70.
Source: Capital
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