Abbott Laboratories has reported net earnings of $1.64bn, or $0.94 per diluted share, for the third quarter (Q3) that ended on 30 September 2024. The figure represents a 14.6% rise compared to $1.43bn, or $0.82 per diluted share, for the corresponding quarter in 2023.
The company reported net sales of $10.63bn for Q3 2024, a 4.9% increase compared to $10.14bn for the same quarter in 2023, and a 2.5% rise compared to $10.37bn for Q2 2024.
Total operating costs and expenses were $8.77bn for Q3 2024, a 3.3% rise compared to $8.49bn for the same period in the previous year.
Abbott reported a 16.1% year-on-year increase in income before taxes to $1.94bn.
Abbott chairman and CEO Robert Ford said: “Our results this quarter demonstrate the strength of our diversified business model.
“We’re well-positioned to achieve the upper end of our initial guidance ranges for the year and have great momentum heading into next year.”
Abbott reported a net earnings of $4.17bn, or $2.38 per diluted share, for the first nine months (9M) ended on 30 September 2024. This represents a 1% rise compared to $4.12bn, or $2.35 per diluted share, for the same period in the previous year.
The company reported net sales of $30.97bn for 9M 2024, a 3.7% increase compared to $29.86bn for the first nine months of 2023 (9M 2023)
Abbott reported total operating costs and expenses of $26.06bn for 9M 2024, a 3.5% rise compared to $25.17bn for the same period in the previous year.
The company reported income before taxes of $4.98bn for 9M 2024, a 2.3% rise compared to $4.86bn for the same period in 2023.
