Abbott continued leaning into its diverse business portfolio during the third quarter's volatile market and significantly exceeded Street estimates.

Based on the company's strong performance so far this year, Abbott is raising its full-year 2022 projected adjusted diluted earnings per share (EPS) guidance to $5.17 to $5.23.¹

These are the quarter’s key numbers:

• $1.15 in adjusted diluted EPS, which excludes specified items. On a reported basis, diluted EPS was $0.81.²
• $10.4 billion in worldwide sales, increasing 1.3% organic* (decreasing 4.7% reported).
• $1.7 billion in global COVID-19 testing-related sales.

Abbott's diversified business model has been driving the company's success and setting it apart from competitors for more than 130 years. And this continued in the third quarter. The company's results were led by strong performance in Established Pharmaceuticals and the U.S. Medical Devices business, which reported strong, double-digit growth in Electrophysiology, Structural Heart and Diabetes Care.

Abbott continues to strengthen its portfolio with regulatory approvals, real-world data and new product introductions, including:

• U.S. launch of the FreeStyle Libre 3 system, which automatically delivers up-to-the-minute glucose readings and unsurpassed 14-day accuracy³ in the world's smallest and thinnest³ wearable sensor.
• New data showing the FreeStyle Libre continuous glucose monitoring system reduces diabetes-related hospitalizations for people with Type 2 diabetes on once-daily insulin therapy.⁴
• Food and Drug Administration Emergency Use Authorization for Monkeypox PCR test used with the Alinity m system.

For full financials and reconciliation of non-GAAP measures, you can read Abbott's press release.

For further information, take a look at a summary of Abbott’s earnings highlights and download it here.