ABBOTT PARK, Ill. (AP) — ABBOTT PARK, Ill. (AP) — Abbott Laboratories (ABT) on Thursday reported first-quarter earnings of $1.08 billion.
On a per-share basis, the Abbott Park, Illinois-based company said it had profit of 61 cents. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, came to $1.15 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The maker of infant formula, medical devices and drugs posted revenue of $11.16 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $11.02 billion.
For the current quarter ending in June, Abbott expects its per-share earnings to range from $1.25 to $1.31.
The company expects full-year earnings in the range of $5.38 to $5.58 per share.
Abbott shares have decreased 19% since the beginning of the year, while the S&P’s 500 index has increased almost 3%. The stock has declined 20% 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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