ABBOTT PARK, Ill. (AP) — ABBOTT PARK, Ill. (AP) — Abbott Laboratories (ABT) on Thursday reported second-quarter profit of $1.78 billion.
The Abbott Park, Illinois-based company said it had net income of $1.01 per share. Earnings, adjusted for one-time gains and costs, were $1.26 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
The maker of infant formula, medical devices and drugs posted revenue of $11.14 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $11.07 billion.
For the current quarter ending in September, Abbott expects its per-share earnings to range from $1.28 to $1.32.
The company expects full-year earnings in the range of $5.10 to $5.20 per share.
Abbott shares have increased 16% since the beginning of the year, while the S&P's 500 index has climbed 6.5%. The stock has climbed 28% 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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