Abbott has reported a net profit of $1.3bn or $0.74 per diluted share for the quarter ended 30 June 2024, a 5.3% decline compared to $1.37bn or $0.78 per diluted share for the same quarter in 2023.
Its net profit for the second quarter of 2024 (Q2 2024) increased by 6% compared to $1.22bn or $0.70 per diluted share for the first quarter of 2024 (Q1 2024).
The medical device company reported net sales of $10.37bn for Q2 2024, a 4% rise compared to $9.96bn for the respective period the previous year.
Its net sales for Q2 2024, increased by 4.1% compared to $9.96bn for Q1 2024.
The US-based company reported total operating costs and expenses of $8.7bn for Q2 2024, a 3.2% rise compared to $8.43bn for the same quarter in 2023.
Its total operating cost and expenses for Q2 2024 increased by 1.5% compared to $8.57bn for Q1 2024.
Abbott chairman and CEO Robert Ford said: “We achieved another quarter of strong growth in our underlying base business. We have a lot of positive momentum heading into the second half of the year and are raising our full-year guidance.”
Abbott’s Nutrition business reported net sales of $2.15bn for Q2 2024, a 3.5% rise compared to $2.07bn for the same quarter a year ago.
The company’s Diagnostics unit reported net sales of $2.19bn, a 5.3% decrease compared to $2.31bn for the respective quarter in 2023.
Its Established Pharmaceuticals business reported net sales of $1.29bn, a 0.6% increase compared to $1.28bn for the same period the previous year.
The company’s Medical Devices business reported net sales of $4.73bn, a 10% rise compared to $4.29bn for the corresponding quarter in 2023.
