Abbott Beats Q2 Expectations with Strong Device and Diagnostic Sales, Raises Profit Forecast

Abbott reported second‑quarter results that exceeded analysts' forecasts, easing concerns about potential impact of ACA subsidy cuts on medtech firms.

Diagnostics revenue jumped 42% year‑over‑year to $3.09 billion, while medical‑device sales rose 9% to $5.85 billion, contributing to total quarterly revenue of $12.59 billion, slightly below last year’s $13 billion.

Adjusted earnings per share were $1.31, beating the consensus estimate of $1.28. The company also reaffirmed its profit outlook, citing its focus on chronic‑condition markets that remain insulated from insurance lapses.

CEO Robert Ford said the shift in payer mix reported by HCA is less concerning for Abbott because its products serve conditions like diabetes, cardiovascular disease and cancer, which patients are unlikely to forgo coverage for.