Abbott: 3Q Earnings Snapshot

ABBOTT PARK, Ill. (AP) -- Abbott Laboratories (ABT) on Wednesday reported third-quarter net income of $563 million.

On a per-share basis, the Abbott Park, Illinois-based company said it had profit of 32 cents. Earnings, adjusted for one-time gains and costs, were 75 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.

The maker of infant formula, medical devices and drugs posted revenue of $7.66 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $7.67 billion.

For the current quarter ending in December, Abbott expects its per-share earnings to range from 80 cents to 82 cents.

The company expects full-year earnings in the range of $2.87 to $2.89 per share.

Abbott shares have climbed 24 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 5 percent. The stock has risen 30 percent 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