Abbott Laboratories has reported a net income of $9.2bn, or $5.27 per diluted share, for the fourth quarter ended 31 December 2024, compared to $1.6bn, or $0.91 per diluted share, for the respective quarter in 2023.
The US-based medical device company’s net income for the fourth quarter of 2024 (Q4 2024) increased compared to $1.6bn for the third quarter of 2024 (Q3 2024).
Abbott reported net sales of $10.97bn for Q4 2024, a 7.2% rise compared to $10.24bn for the same period in 2023, and a 3.5% increase compared to $10.6bn for Q3 2024.
The company reported a total operating cost and expenses of $9.06bn, a 7.1% increase compared to $8.46bn for the same quarter in 2023.
Abbott reported a profit before tax of $2.03bn for Q4 2024, a 13% rise compared to $1.79bn for the respective period in the previous year.
Abbott chairman and CEO Robert Ford said: “We finished the year with very strong momentum. Sales growth and earnings per share growth in the fourth quarter were the highest of the year.
“We continued our track record for delivering on our commitments by achieving the upper end of our initial guidance ranges for 2024 and are well-positioned to deliver another year of strong growth in 2025.”
Abbott reported a net income of $13.4bn, or $7.64 per diluted share, for the 12 months ended 31 December 2024 (12M 2024), compared to $5.72bn, or $3.26 per diluted share, for the 12 months 2023.
The medical device company reported net sales of $41.95bn for 12M 2024, a 4.6% rise compared to $40.10bn for 12M 2023.
Abbott reported total operating costs and expenses of $35.12bn for the full year 2024, a 4.4% increase compared to $33.63bn for the full year 2023.
The company reported a profit before tax of $7.01bn for 12M 2024, a 5.2% rise compared to $6.66bn for 12M 2023.
