Sector: Healthcare|Industry: Medical Devices|Market Cap: $197.49B|Employees: 114K
Abbott Laboratories is a global healthcare company focused on the discovery, development, manufacture, and sale of a broad range of health care products. The company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. Abbott's market position is supported by its strong brand portfolio, technological innovation, and global presence, particularly in emerging markets.
Net sales increased by 2.2% year-over-year, from $9,747 million to $9,964 million, primarily driven by growth in the Medical Devices segment, which increased by 14.2%. However, this was partially offset by a decrease in Diagnostic Products sales.
Operating earnings decreased from $1,509 million to $1,386 million year-over-year, indicating a decline in profitability despite the increase in net sales. This is attributable to higher operating costs and expenses.
Net earnings decreased from $1,318 million to $1,225 million year-over-year, reflecting the impact of higher operating costs and expenses, as well as higher taxes on earnings.