Notable Hit: (ABT:NYSE) On Thursday July 20, 2023 Abbott Laboratories (ABT) posted revenues of $9.98 bn beating the mean analyst estimates of $9.69 bn and in the same direction as Advan's forecasted sales. The revenue decreased 11.36% YoY - in line with Advan's employee foot traffic data decrease of 7.36% YoY including all of its subsidiaries and manufacturing facilities in Q2 2023 fiscal. Advan's footfall data have a correlation of 0.93 on a YoY basis with ABT's top-line revenue over the last 9 quarters.
Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.
Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.