Boston, MA 10/18/2013 (wallstreetpr) – In the Q3.13 earnings report, Abbott Laboratories (NYSE:ABT) has succeed to beat analysts in their estimates and also excite its investor community. The earnings reflect three months performance for the trading period ending September 30, 2013. The health care company has reported $0.55 earnings per share on revenue of $5.369 billion. Perhaps owing to this encouraging performance in the industry where players are largely failing these days, ABT managed to energize its share which gained significantly by over $3.54% to close north $37.17 on October 17.
The equities analysts watching ABT has expected the health care company to report $0.52 in per share earnings on $5.4 billion revenue. But ABT did exceed the estimates to register $0.55 in EPS. In a comparable duration last year, the company earned $1.30 EPS. While the latest earnings indicated a dip from the same three months in the previous year, it is the first that the company reports after it parted with AbbVie, its pharmaceutical arm.
Now that ABT has left everyone surprised, more so the analyst studying the company, its mandarins are exuding confidence that better times are still ahead of the company. In this regards, executives have raised their full-year guidance to $2.04 per share, up from the previous guidance of $1.98 per share. On their part, analysts who have got it wrong this time around on the company are expecting $2 per share for the year, which is now $0.04 shy of what ABT is targeting.
Perhaps the most exciting thing for the ABT investor community is that the health care company has announced larger-than-expected dividend increase of 57%. It now means that shareholders will now earn $0.22 per share, up from the previous quarterly earnings of $0.14 per share. However, it is the company’s split from its pharmaceutical arm AbbVie Inc. that seems to hurt its investors. Also, ABT still has the burden of prove as regards the reality of its new guidance, especially with realities that the company’s shares have just increases by less than 3% since January this year, a figure that is incomparable with the rest S&P 500 so far in 2013.