ABBOTT PARK, Ill. (AP) — Abbott Laboratories (ABT) on Thursday reported second-quarter earnings of $1.3 billion.
The Abbott Park, Illinois-based company said it had profit of 74 cents per share. Earnings, adjusted for one-time gains and costs, were $1.14 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The maker of infant formula, medical devices and drugs posted revenue of $10.38 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $10.35 billion.
For the current quarter ending in September, Abbott expects its per-share earnings to range from $1.18 to $1.22.
The company expects full-year earnings in the range of $4.61 to $4.71 per share.
Abbott shares have declined roughly 5% since the beginning of the year, while the S&P's 500 index has increased 17%. The stock has declined 2% in the last 12 months.
