Abbott's Sales and Earnings Are Sinking: Should Investors Worry?
Abbott (NYSE: ABT) reported its full-year and fourth-quarter results for 2022 on Wednesday. As is often the case with companies' updates, there was both good news and bad news.
Our human nature is to usually focus more on the bad than the good. Abbott's bad news definitely jumped out. The healthcare giant's sales fell 12% year over year in Q4. Earnings plunged 48%. Should investors worry about these negative trends?
While Abbott's sales fell 12% on a reported basis, the year-over-year decline was only 6.1% excluding the impact of foreign exchange. The strong U.S. dollar ranked as a significant headwind for the company, with 58% of its total revenue in the quarter generated in international markets.
Source Fool.com
