Abbott Reports Slight Profit Beat, Adjusts 2026 Forecast Due to Exact Sciences Acquisition
Abbott slightly exceeded Wall Street's quarterly profit and revenue estimates, aided by its newly acquired cancer diagnostics business. However, the company lowered its 2026 profit forecast by 20 cents due to the $23 billion acquisition of Exact Sciences. Shares fell 2% pre-market despite the CEO highlighting the acquisition's growth potential.
Topics: Acquisition Impact Earnings Report Medical Device Industry Profit Guidance Stock Performance