Abbott Q2 Sales Rise 13 Percent, Boosted by Exact Sciences Acquisition
The newly created Cancer Diagnostics segment, formed following its March acquisition of Exact Sciences, posted $919 million in second-quarter revenue.
Abbott said on July 16 before the market open that its second quarter revenue rose 13 percent year over year, driven in large part by its acquisition of Exact Sciences.
The company reported Q2 2026 revenue of $12.59 billion, up from $11.14 billion in Q2 2025. On a comparable basis, which includes prior-year Exact Sciences revenue and excludes foreign exchange and one-time payments, sales grew 5 percent.
Revenue for Abbott’s newly created Cancer Diagnostics segment, formed following the March acquisition of Exact Sciences, was $919 million in Q2, with US sales of $890 million and international sales of $29 million. On a comparable basis, Cancer Diagnostics grew 13 percent, driven by “mid-teens” percentage growth in Cologuard, which Abbott said is benefiting from a growing base of both new and repeat users, as well as contributions from the precision oncology and international businesses.
The broader Diagnostics division, which also includes Core Laboratory and Rapid and Molecular Diagnostics, reported Q2 sales of $3.09 billion, up 42 percent on a reported basis and 3 percent on a comparable basis. Core Laboratory Diagnostics grew 3 percent on a comparable basis, driven by strong growth in the US and Latin America. Rapid and Molecular Diagnostics sales fell 8 percent year over year on a comparable basis, reflecting lower sales of respiratory virus tests.
Continuous glucose monitor sales grew 10 percent on a comparable basis.
Net income for the quarter was $928 million, or $.53 per share, compared to $1.78 billion, or $1.01 per share, in Q2 2025. Adjusted EPS was $1.31, up from $1.26 a year ago, beating the consensus Wall Street estimate of $1.28 per share.
Abbott’s R&D expenses rose 23 percent to $892 million from $725 million in Q2 2025. SG&A expenses rose 30 percent to $4.03 billion from $3.09 billion a year ago, reflecting the addition of Exact Sciences.
Abbott returned $2.1 billion to shareholders in Q2 through dividends and share repurchases.
Abbott reaffirmed its full-year 2026 comparable revenue guidance of 7 to 8 percent and raised its full-year adjusted EPS guidance to $5.45 to $5.60 from a prior range of $5.38 to $5.58. For Q3 2026, the company guided to adjusted EPS of $1.38 to $1.46.