ABT

Abbott quarterly profit plunges as COVID-19 batters medical device unit

Credit: REUTERS/Shailesh Andrade

Abbott Laboratories on Thursday reported a 46.6% fall in second-quarter profit as the COVID-19 pandemic continued to batter its medical device unit.

July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a 46.6% fall in second-quarter profit as the COVID-19 pandemic continued to batter its medical device unit.

The company's net earnings fell to $$537 million, or 30 cents per share, in the quarter ended June 30, from $1 billion, or 56 cents per share, a year earlier.

Net sales fell to $7.33 billion from $7.98 billion.

(Reporting by Trisha Roy and Manojna Maddipatla in Bengaluru; Editing by Maju Samuel)

((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ABT

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More