Coronavirus test ramp-up to help Abbott weather 'toughest quarter' [Reuters]
Abbott Laboratories (ABT)
Last abbott laboratories earnings: 4/16 07:30 am
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Source: Reuters
Coronavirus test ramp-up to help Abbott weather 'toughest quarter' (Reuters) - Abbott Laboratories Inc ( ABT.N ) said on Thursday a recent ramp up in coronavirus tests production would help it ride out a tough current quarter as the outbreak chokes demand for its other diagnostic kits. The company has since mid-March launched three coronavirus tests, including an antibody test crucial in identifying immunity among people and one that can deliver results within minutes, which was heralded as a game changer by President Donald Trump. Shares of the company were up 6% at $96.48 in morning trading. Despite the strong uptake in coronavirus testing, the cancellation of non-essential surgeries and restrictions on people’s movement are expected to severely crimp sales of its medical devices and other lab tests, which contribute to more than half of total quarterly revenue. “(The second quarter) will likely be our toughest quarter in the year, especially for our core lab business, our cardio
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ABT
Earnings
- 4/17/24 - Beat
ABT
Sec Filings
- 4/17/24 - Form 8-K
- 4/2/24 - Form 4
- 4/2/24 - Form 4
- ABT's page on the SEC website