Abbott Labs Stock Falls as Q2 Guidance Outweighs Earnings Beat

Key TakeawaysAbbott Laboratories stock fell in intraday trading Wednesday as investors reacted to a first-quarter earnings report that beat expectations, but included current-quarter adjusted earnings per share (EPS) guidance mostly below estimates.Lower demand for COVID testing dragged down sales in Abbott's diagnostics division by 17.6% compared to the prior-year quarter.Medical devices posted a 14.2% sales increase from Q1 2023, the biggest percentage gain among company units. Shares of Abbott Laboratori ...