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Late Tuesday, the company posted third-quarter results that fell short of Wall Street's expectations on the top and bottom lines. The company posted third-quarter adjusted earnings of $1.55 per share on adjusted revenue of $1.14 billion. Abbott posted earnings of $1.14 per share, excluding items, beating analysts' estimates by 4 cents a share, according to FactSet. It posted revenue of $2.69 billion, which was not immediately comparable to consensus estimates. It posted revenue of $771.0 million, lower than the consensus estimate of $784.3 million, according to FactSet.
Persons: Morgan Stanley, . Hunt, Gamble — Procter, LSEG, Abbott, Michael Happe, , Yun Li, Sarah Min, Tanaya, Hakyung Kim, Pia Singh Organizations: United Airlines —, United Airlines, Nvidia, U.S, Citi, Devices, Marvell Technology, Hunt Transport Services, LSEG, Interactive, Procter, Gamble, Abbott, Financial, Citizens Financial, State, FactSet, Winnebago Industries, Winnebago, Bancorp, U.S . Bancorp, Bank of America Locations: Tel Aviv, Israel, China, LSEG, Albemarle —
The power company also reported preliminary third-quarter results, with earnings per share expected to come in at $1.75 compared to the $3.21 estimate. Netflix — Shares of the streaming media company soared 13.1% after the firm on Tuesday posted better-than-expected results on the top and bottom lines. Netflix also reported the addition of 2.41 million net global subscribers, more than doubling the adds the company had projected a quarter ago. Intuitive also reported growth in its da Vinci procedures of about 20% compared with the third quarter of 2021. Snap — The social media stock climbed 2.5% after Citi added a positive catalyst watch on Snap heading into its earnings results Thursday.
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