We also love that EPS results on Tuesday came in above the range management had forecasted.
Abbott Laboratories delivered a top and bottom line beat Wednesday and surprised investors by raising its full-year guidance — a show of confidence by the medical device maker not seen in a first quarter since 2016. Revenue for the three months ended March 31 rose slightly more than 2% year over year to $9.96 billion, outpacing expectations of $9.88 billion, according to LSEG. On an organic basis, sales were up 10.8% versus the year-ago period , also ahead of expectations of a 9.45% increase.
Baby formula lawsuit Management reiterated its stance that allegations its baby formula may cause necrotizing enterocolitis in infants are without merit. CEO Ford said experts in the medical community "consider these products to be critical, a critical part of the standard of care for feeding premature infants, he said, adding that "the doctors who work in the NICUs, they've used our products for decades and they continue to do so today.
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