Here's the Worst News for Abbott Right Now (and Why Investors Shouldn't Worry)
Abbott Laboratories (NYSE: ABT) investors have plenty to be happy about when they look at the company's recent earnings report. Revenue is climbing in the double digits in three of the company's four businesses. Its coronavirus testing sales soared to $3.3 billion in the quarter. And product approvals are set to drive future revenue.
But there's one dark cloud amid all of this sunshine. And that has to do with a recent product recall in Abbott's nutrition business. In fact, this recall is the reason Abbott lowered its annual revenue growth guidance to the mid-to-high single digits from the high single digits. This is the worst news to hit Abbott in the first quarter. Now, let's talk about why you shouldn't worry too much about Abbott's future.
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Source Fool.com
