5 Stocks That Beat Quarterly Expectations

3. Abbott Laboratories (NYSE:ABT)

Number of Hedge Fund Holders: 63

Abbott Laboratories (NYSE:ABT) recently announced better-than-expected financial results for the fourth quarter. However, its profit outlook for the fourth quarter missed expectations, sending its shares down nearly three percent on Wednesday, January 26, 2022.

The medical devices and health care company earned $1.32 per share on an adjusted basis, above expectations of $1.21 per share. Revenue came in at $11.47 billion, while analysts were expecting Abbott Laboratories (NYSE:ABT) to generate revenue of $10.71 billion.

Looking at the performance of key segments, nutrition revenue rose 5.5 percent, diagnostic revenue increased 2.9 percent, pharmaceuticals revenue increased 4.9 percent and medical devices revenue climbed 15.1 percent in the quarter.

Moving forward, Abbott Laboratories (NYSE:ABT) expects an adjusted profit of at least $4.70 per share for 2022, below analysts’ average forecast of $4.78 per share.

Discussing the results, CEO Robert Ford said:

“We achieved more than 40 percent EPS growth, exceeding the baseline EPS guidance we set at the beginning of last year and, importantly, continued to advance our new product pipeline across the portfolio.”