The company said total net sales excluding the impact of foreign exchange rose 5.1% in Q1 2024. Sales related to COVID-19 testing fell to $204 million in Q1 2023 from $730 million in the prior-year period.

1. 01

   The company said total net sales excluding the impact of foreign exchange rose 5.1% in Q1 2024. Sales related to COVID-19 testing fell to $204 million in Q1 2023 from $730 million in the prior-year period.

2. 02

   The company said Medical Devices sales rose 15.4% excluding the impact of foreign exchange in Q1 2024. FreeStyle Libre sales totaled $1.5 billion, up 23.3% excluding the effect of foreign exchange, and in Q1 2023 they were $1.2 billion.

3. 03

   Abbott said its gross profit margin percentage was unchanged from the prior year at 50.5% in Q1 2024. It said SG&A expenses rose $197 million, or 7.1%, from the prior year.

4. 04

   Abbott said net cash from operating activities was approximately $1.0 billion in Q1 2024, a decrease of $118 million from the prior year. It said cash and cash equivalents fell from $6.9 billion on December 31, 2023 to $6.3 billion on March 31, 2024.

Key figures

Quarter ended March 31, 2024

Revenue

$10.0B

Operating income

$1.4B

Net income

$1.2B

EPS

$0.70

Operating cash flow

$1.0B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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