Abbott Laboratories and McDonald’s released their latest earnings reports before opening bell this morning. Abbott posted adjusted earnings of 47 cents, a 38% increase that beat guidance, on revenue of $4.9 billion, a 10% increase with double-digit growth in emerging markets. Analysts had been expecting earnings of 42 cents per share on $4.85 billion in revenue.
McDonald’s posted earnings of 84 cents per diluted share on $5.96 billion in revenue for the first quarter. Analysts had been expecting earnings of $1.06 per share on $5.96 billion in revenue. In the same quarter a year ago, the fast food chain posted $6.7 billion in revenue.
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Key metrics from Abbott Laboratories’ earnings report
Abbott Laboratories reported GAAP earnings of 35 cents per share. International sales rose 13.6% operationally and 3.5% on a reported basis. Sales in emerging markets rose 20.6% operationally and 13% on a reported basis.
Sales from the company’s Nutrition segment rose 6.3% to $1.669 billion for the quarter, including $685 million in U.S. sales and $984 million in international sales. Diagnostics revenue increased 6% operationally to $1.093 billion, including $327 million in the U.S. and $766 million internationally.
The drug maker’s Established Pharmaceuticals division recorded a 43% operational increase in sales, which rose to $897 million, all of which was international. Medical Devices revenue increased 1% to $1.226 billion, including $485 million in the U.S. and $741 million internationally.
The drug maker also left its previously provided guidance unchanged. Management expects full year earnings of between $2.10 and $2.20 per share and GAAP earnings of between $1.33 and $1.43 per share.
Key metrics from McDonald’s earnings
McDonald’s reported earnings were 84 cents, compared to $1.21 per share in the same quarter a year ago. The fast food chain said special items of 17 cents per share weighed on the reported results. The company also said it took a 9-cent per share hit for foreign currencies. In constant currencies, McDonald’s earnings per share fell 11 cents or 9%.
Same store sales fell 2.3% in the first quarter, which was slightly worse than the consensus estimate of a 2% decline year over year. U.S. same store sales fell 2.6% in the quarter, again worse than the consensus estimate of a 2% decline from last year.