ABBOTT PARK, Ill. (AP) — ABBOTT PARK, Ill. (AP) — Abbott Laboratories (ABT) on Wednesday reported third-quarter earnings of $1.65 billion.
On a per-share basis, the Abbott Park, Illinois-based company said it had profit of 94 cents. Earnings, adjusted for non-recurring costs, came to $1.21 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.
The maker of infant formula, medical devices and drugs posted revenue of $10.64 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $10.56 billion.
Abbott expects full-year earnings in the range of $4.64 to $4.70 per share.
Abbott shares have increased slightly more than 5% since the beginning of the year, while the S&P’s 500 index has increased 22%. The stock has climbed 26% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABT at https://www.zacks.com/ap/ABT
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