Abbott (ABT) Tops Q1 EPS by 5c, FY Guidance Unchanged

Abbott (NYSE: ABT) reported Q1 EPS of $0.48, $0.05 better than the analyst estimate of $0.43. Revenue for the quarter came in at $6.34 billion versus the consensus estimate of $6.16 billion.

ABBOTT'S FULL-YEAR EARNINGS-PER-SHARE GUIDANCE REMAINS UNCHANGED

Abbott continues to project earnings per share from continuing operations under Generally Accepted Accounting Principles (GAAP) of $0.92 to $1.02, including amortization and integration expenses related to the acquisition of St. Jude Medical. Projected adjusted diluted earnings per share from continuing operations remains unchanged at $2.40 to $2.50 for the full year 2017.

Abbott forecasts net specified items for the full year 2017 of approximately $1.48 per share. Specified items include acquisition-related expenses, intangible amortization expense, charges associated with cost reduction initiatives and other expenses, partially offset by a gain on the sale of the AMO business.

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