NEW YORK (AP) — Abbott Laboratories says its profit was unchanged in the second quarter as greater expenses canceled out higher revenue from Abbott’s drugs and medical devices and from companies it recently acquired.
The North Chicago, Ill., company says its profit held steady at $1.29 billion, or 83 cents per share. Excluding one-time costs, Abbott earned $1.01 per share.
Revenue rose 18 percent to $8.83 billion from $7.5 billion.
Thomson Reuters says analysts expected $1 per share and $8.84 billion in revenue.
Abbott’s pharmaceutical sales climbed 24.5 percent, aided by the acquisition of Solvay Pharmaceuticals in February. Sales of Abbott’s inflammatory disease drug Humira rose 21.5 percent to $1.59 billion.
The company also is backing its annual profit forecast.