ABBOTT PARK, Ill. (AP) — ABBOTT PARK, Ill. (AP) — Abbott Laboratories (ABT) on Thursday reported fourth-quarter earnings of $1.78 billion.
On a per-share basis, the Abbott Park, Illinois-based company said it had net income of $1.01. Earnings, adjusted for amortization costs, came to $1.50 per share.
The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of $1.50 per share.
The maker of infant formula, medical devices and drugs posted revenue of $11.46 billion in the period, which fell short of Street forecasts. Nine analysts surveyed by Zacks expected $11.78 billion.
For the year, the company reported profit of $6.52 billion, or $3.72 per share. Revenue was reported as $44.33 billion.
For the current quarter ending in March, Abbott expects its per-share earnings to range from $1.12 to $1.18.
The company expects full-year earnings in the range of $5.55 to $5.80 per share.
Abbott shares have fallen nearly 4% since the beginning of the year, while the S&P’s 500 index has stayed nearly flat. The stock has increased slightly more than 3% 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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