ABBOTT PARK, Ill. (AP) — Abbott Laboratories (ABT) on Thursday reported second-quarter profit of $1.19 billion.
On a per-share basis, the Abbott Park, Illinois-based company said it had net income of 66 cents. Earnings, adjusted for one-time gains and costs, came to $1.17 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The maker of infant formula, medical devices and drugs posted revenue of $10.22 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $9.72 billion.
Abbott expects full-year earnings in the range of $4.30 to $4.50 per share.
Abbott shares have increased almost 9% since the beginning of the year, while the S&P's 500 index has increased 16%. The stock has climbed 21% in the last 12 months.