ABT

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

Credit: REUTERS/Shailesh Andrade

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.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.