ABBOTT PARK, Ill. (AP) — ABBOTT PARK, Ill. (AP) — Abbott Laboratories (ABT) on Wednesday reported first-quarter earnings of $1.33 billion.
The Abbott Park, Illinois-based company said it had profit of 76 cents per share. Earnings, adjusted for amortization costs and pretax expenses, came to $1.09 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The maker of infant formula, medical devices and drugs posted revenue of $10.36 billion in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $10.42 billion.
For the current quarter ending in June, Abbott expects its per-share earnings to range from $1.23 to $1.27.
The company expects full-year earnings in the range of $5.05 to $5.25 per share.
Abbott shares have climbed 12% since the beginning of the year, while the S&P’s 500 index has decreased 8%. The stock has increased 16% 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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