Abbott's Q4 Earnings Surpass Analyst Expectations

For the year, the company reported profit of $5.72 billion.

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ABBOTT PARK, Ill. (AP) β€” ABBOTT PARK, Ill. (AP) β€” Abbott Laboratories (ABT) on Wednesday reported fourth-quarter profit of $1.59 billion.

On a per-share basis, the Abbott Park, Illinois-based company said it had profit of 91 cents. Earnings, adjusted for one-time gains and costs, were $1.19 per share.

The results met Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of $1.19 per share.

The maker of infant formula, medical devices and drugs posted revenue of $10.24 billion in the period, surpassing Street forecasts. Seven analysts surveyed by Zacks expected $10.17 billion.

For the year, the company reported profit of $5.72 billion, or $3.26 per share. Revenue was reported as $40.11 billion.

Abbott expects full-year earnings in the range of $4.50 to $4.70 per share.

Abbott shares have increased nearly 4% since the beginning of the year, while the S&P's 500 index has risen 2%. The stock has decreased slightly in the last 12 months.

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