ABBOTT PARK, Ill. (AP) _ Abbott Laboratories (ABT) on Wednesday reported second-quarter net income of $2.02 billion.
On a per-share basis, the Abbott Park, Illinois-based company said it had net income of $1.14. Earnings, adjusted for amortization costs and non-recurring costs, were $1.43 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The maker of infant formula, medical devices and drugs posted revenue of $11.26 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $10.36 billion.
Abbott expects full-year earnings to be $4.90 per share.
Abbott shares have declined 22% since the beginning of the year, while the S&P's 500 index has dropped 17%. The stock has dropped 7.5% in the last 12 months.
