Abbott Laboratories Cuts Full-Year Profit Forecast, Leading to Stock Decline
Abbott Laboratories (ABT) reported first-quarter results that met analyst estimates, but the company cut its full-year profit forecast, leading to a 6% drop in its stock price. The company's sales increased by 8% year-over-year to $11.2 billion, but investors were more concerned with the downward revision to future profitability.
Tickers: $ABT
Topics: Earnings Guidance Profitability Revenue Stock Performance