Abbott Q1 revenue surges 35.3% to $10.46 billion
Abbott Laboratories released its first-quarter earnings results on Tuesday, revealing that the company’s revenue annually surged 35.3% to reach $10.46 billion. Abbott’s diluted earnings per share skyrocketed 233.3% to $1.00 during the same period, while projected full-year figures were confirmed. “We’re off to a very strong start to the year, with all four of our major businesses achieving strong growth. We’re particularly pleased with the growing momentum of several recently launched products and continue to forecast more than 35% EPS growth for the year,” CEO Robert Ford noted. Abbott’s stocks lost 3.65% ahead of today’s session following the announcement to trade at $119.98 per share.
P&G: Q3 net sales at $18.1 billion, up 5% YoY
he Procter & Gamble Company (P&G) revealed on Tuesday that its net sales rose by 5% year-on-year to $18.1 billion in the third fiscal quarter of 2021. In the three-month period ending with March 31, 2021, gross profit hit $9.2 billion, up 8% compared to the corresponding time span in 2020, while operating income increased 10% on a yearly basis to $3.8 billion. Net earnings were also 10% higher annually, standing at $3.2 billion in the third trimester. Diluted net earnings per share stood at $1.26, growing 13% year-over-year. “We remain focused on executing our strategies of superiority, productivity, constructive disruption and improving P&G’s organization and culture. These strategies enabled us to build strong business momentum before the COVID crisis and accelerate our progress during the crisis, and they remain the right strategies to deliver balanced growth and value creation over the long term,” Chairman, President and CEO David Taylor commented in the press release. The company’s shares were 0.07% higher premarket after the results were released.
J&J Q1 revenue tops estimates at $22.32 billion
Johnson & Johnson published its first-quarter earnings results on Tuesday, saying that its revenue climbed 7.9% on a yearly basis and reached better-than-expected $22.32 billion. The company’s adjusted earnings per share also outperformed by annually surging 12.6% to $2.59 in the trimester ending March. The report brought increased full-year guidance, as well as increased dividend by 5% to $4.24 per share. “Johnson & Johnson delivered a strong first-quarter performance led by the above-market growth of our Pharmaceutical business and continued recovery in Medical Devices,” commented CEO Alex Gorsky. Despite the optimistic results, the company’s stocks lost 0.42% ahead of Tuesday’s session to trade for $162 a share, majorly due to the negative sentiment surrounding the temporary suspension of Johnson & Johnson’s COVID-19 vaccine rollout in the United States.