5 Companies Making Noise After Posting Their Earnings Reports

3. Abbott Laboratories (NYSE:ABT)

Number of Hedge Fund Holders: 64

Shares of Abbott Laboratories (NYSE:ABT) rose over two percent on Wednesday, April 20, 2022, after delivering impressive profit and sales for the first quarter. The health care company earned $1.73 per share on an adjusted basis, beating expectations of $1.47 per share with a big margin.

Revenue for the quarter rose 13.8 percent on a year-over-year basis to $11.9 billion, while analysts were expecting Abbott Laboratories (NYSE:ABT)  to post revenue of $11.02 billion. Revenue from the coronavirus testing sales came in at $3.3 billion. while revenue from the sale of medical devices rose 7.4 percent to $3.56 billion in the quarter.

Abbott Laboratories (NYSE:ABT) also reaffirmed its profit outlook for 2022. It expects adjusted earnings of at least $4.70 per share for the full year, compared to analysts’ average estimate of $4.83 per share.