AGL 40.05 Increased By ▲ 0.05 (0.13%)
AIRLINK 130.10 Increased By ▲ 0.57 (0.44%)
BOP 6.72 Increased By ▲ 0.04 (0.6%)
CNERGY 4.45 Decreased By ▼ -0.18 (-3.89%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 40.70 Decreased By ▼ -0.99 (-2.37%)
DGKC 80.50 Decreased By ▼ -3.27 (-3.9%)
FCCL 32.60 Decreased By ▼ -0.17 (-0.52%)
FFBL 75.75 Increased By ▲ 0.28 (0.37%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.50 Decreased By ▼ -1.05 (-0.95%)
HUMNL 14.00 Decreased By ▼ -0.56 (-3.85%)
KEL 5.38 Decreased By ▼ -0.01 (-0.19%)
KOSM 8.00 Decreased By ▼ -0.40 (-4.76%)
MLCF 38.75 Decreased By ▼ -1.04 (-2.61%)
NBP 64.00 Increased By ▲ 3.71 (6.15%)
OGDC 196.00 Decreased By ▼ -3.66 (-1.83%)
PAEL 25.90 Decreased By ▼ -0.75 (-2.81%)
PIBTL 7.45 Decreased By ▼ -0.21 (-2.74%)
PPL 156.10 Decreased By ▼ -1.82 (-1.15%)
PRL 25.95 Decreased By ▼ -0.78 (-2.92%)
PTC 17.51 Decreased By ▼ -0.95 (-5.15%)
SEARL 79.00 Decreased By ▼ -3.44 (-4.17%)
TELE 7.87 Decreased By ▼ -0.44 (-5.29%)
TOMCL 33.67 Decreased By ▼ -0.84 (-2.43%)
TPLP 8.52 Decreased By ▼ -0.54 (-5.96%)
TREET 16.60 Decreased By ▼ -0.87 (-4.98%)
TRG 58.10 Decreased By ▼ -3.22 (-5.25%)
UNITY 27.70 Increased By ▲ 0.27 (0.98%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,514 Increased By 107.2 (1.03%)
BR30 31,413 Decreased By -300.1 (-0.95%)
KSE100 98,146 Increased By 817.2 (0.84%)
KSE30 30,559 Increased By 366.5 (1.21%)

Abbott Laboratories reported a 6.6 percent drop in quarterly profit on Wednesday, hurt by higher tax expense on earnings. Shares of the company, whose products range from nutritional products to glucose monitoring devices, fell 2.1 percent to $69.51 in premarket trading. The company's adjusted profit was in line with analysts' expectations as a drop in sales at its established pharmaceuticals business was offset by growth in its medical device segment, its largest unit.
New device launches and demand for its glucose monitoring products helped the unit raking in $2.82 billion in revenue, leading to 12.1 percent rise in overall sales in the quarter. The company said net earnings fell to $563 million, or 32 cents per share, in the third quarter ended Sept. 30, from $603 million, or 34 cents per share, a year earlier.
Excluding items, Abbott earned 75 cents per share, in line with the average analyst estimate, according to I/B/E/S data from Refinitiv. Net sales rose to $7.66 billion, beating analysts' expectations of $7.65 billion. Abbott also forecast 2018 adjusted earnings per share from continuing operations to be in the range of $2.87 to $2.89, compared with its previous range of $2.85 to $2.91 per share.

Copyright Reuters, 2018

Comments

Comments are closed.