ABBOTT PARK, Ill. (AP) — ABBOTT PARK, Ill. (AP) — Abbott Laboratories (ABT) on Wednesday reported third-quarter profit of $1.64 billion.
The Abbott Park, Illinois-based company said it had net income of 94 cents per share. Earnings, adjusted for amortization costs and restructuring costs, came to $1.30 per share.
The results matched Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of $1.30 per share.
The maker of infant formula, medical devices and drugs posted revenue of $11.37 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $11.4 billion.
Abbott expects full-year earnings in the range of $5.12 to $5.18 per share.
Abbott shares have risen 18% since the beginning of the year, while the S&P’s 500 index has increased 13%. The stock has climbed 13% in the last 12 months.
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