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Thursday, April 25, 2024
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Abbott reports weaker-than-expected 4Q revenue

By  Sun-Times Wire
   
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Abbott Laboratories Inc. reported weaker-than-expected fourth-quarter revenue, hurt by disappointing sales of its generic medicines and the lingering impact of an overseas recall of its baby formulas last summer, Reuters reports.

Company officials further spooked investors by forecasting in a conference call that earnings in the first quarter of 2014 would be well below Wall Street expectations. Abbott’s full-year forecast, however, was in line with analyst forecasts and reflects likely double-digit earnings growth.

via Reuters.com

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