Abbott adeptly navigated through the second quarter’s choppy market — the dips and crests stirred up in part by record-high inflation and turbulence from the ongoing pandemic — thanks to the company’s resilient diversified business.

Powered by this resiliency, Abbott once again significantly beat Street estimates on the top and bottom lines. Based on the company's strong performance through the first half of the year, Abbott is raising its full-year 2022 projected adjusted diluted earnings per share (EPS) guidance to at least $4.90.¹

These are the quarter’s key numbers:

• $11.3 billion in worldwide sales, increasing 14.3% organic* (10.1% reported).
  
• $1.43 in adjusted diluted EPS, which excludes specified items, reflecting 22.2% growth compared to the prior year.²
  
• $2.3 billion in global COVID-19 testing-related sales.

Throughout the pandemic, Abbott’s diversified business model has been a driving force behind the company’s success. And the second quarter was no exception. The company’s performance was led by strong organic sales growth in Diagnostics, Established Pharmaceuticals and Medical Devices, with more than 25% organic growth (18.7% reported) in sales of FreeStyle Libre systems.

New products and expanded indications continue to strengthen Abbott's strategic position and long-term growth opportunities.

Second-quarter highlights of new products and those under development include:

• U.S. Food and Drug Administration clearance of Abbott’s FreeStyle Libre 3 system.
  
• And the announcement that we’re developing a first-of-its-kind glucose-ketone biowearable sensor.

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.