Shares of Abbott Laboratories (NYSE: ABT) gained 2.2% on Wednesday after the company reported higher-than-expected results for the first quarter of 2022. The Illinois-based company sells medical devices, diagnostics, branded generic medicines, and nutritional products. Adjusted earnings rose 31.1% year-over-year to $1.73 per share and surpassed the Street’s estimate of $1.47. Net sales grew 13.8% year-over-year to $11.9 billion and exceeded analysts’ expectations of $11 billion. The Nutrition segment’s sales decreased 7% to $1.9 billion; sales of the Diagnostics segment rose 31.7% to $5.3 billion; the Established Pharmaceuticals segment’s sales jumped 7.1% to $1.1 billion; and the sales of the Medical Devices segment surged 7.4% to $3.6 billion.
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Abbott Laboratories (NYSE:ABT)
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