Abbott first-quarter results beat on cancer diagnostics, medical device strength

Abbott marginally beat Wall Street estimates for quarterly profit and revenue, with results partially helped by its newly acquired cancer diagnostics business. The report points to modestly better-than-expected operating performance and incremental contribution from the acquisition. The news is positive but limited in scope, and likely to have only a modest impact on the stock.

Analysis

Abbott marginally beat Wall Street estimates for quarterly profit and revenue, with results partially helped by its newly acquired cancer diagnostics business. The report points to modestly better-than-expected operating performance and incremental contribution from the acquisition. The news is positive but limited in scope, and likely to have only a modest impact on the stock.