Why did Abbott raise its 2026 profit forecast, and what specific businesses are driving this upward revision?

Abbott raised its 2026 adjusted profit forecast to $5.45–$5.60 per share from $5.38–$5.58 per share due to strong performance in its diagnostics and heart device businesses—particularly its newly acquired cancer diagnostics portfolio, which includes Exact Sciences’ Cologuard colorectal cancer screening test and Oncotype DX breast cancer assay. These assets are helping offset ongoing revenue declines from COVID-19 testing products. Additionally, Abbott’s medical devices segment grew 9% to $5.85 billion, beating estimates, and its Diabetes Care segment (including FreeStyle Libre and Lingo) saw an 11% sales increase to $2.19 billion.

How did Abbott’s second-quarter financial results compare to analyst expectations, and what were the key outperforming segments?

Abbott’s second-quarter adjusted earnings per share came in at $1.31, surpassing the consensus estimate of $1.28; total revenue was $12.59 billion, exceeding the expected $12.5 billion. Its medical devices segment delivered $5.85 billion in sales—above the $5.82 billion estimate—while the Diabetes Care segment reported $2.19 billion in sales, reflecting an 11% year-over-year increase. The strength in these two segments, alongside contributions from the newly integrated cancer diagnostics business, drove the overall beat.

Abbott Raises 2026 Profit Forecast on Diagnostics, Heart Devices Strength

Jul 16, 2026

Abbott raised its 2026 profit forecast after beating quarterly estimates, driven by strong demand in its acquired cancer diagnostics business and medical devices segments, offsetting declines in COVID-19 testing revenue.

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