Abbott Labs shares pop as revenue, earnings defy drop in Covid sales

Shares of Abbott Laboratories popped Wednesday after the company’s earnings and revenue topped Wall Street’s expectations, defying a dramatic slowdown in sales of its Covid-19 tests. 

The medical-products company posted adjusted earnings per share of $1.03. That’s above the average estimate of 99 cents per share, based on a survey of analysts by Refinitiv. Shares jumped over 7%.

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