ABBOTT PARK, Ill. (AP) — Abbott Laboratories (ABT) on Wednesday reported fourth-quarter earnings of $798 million.
The Abbott Park, Illinois-based company said it had net income of 53 cents per share. Earnings, adjusted for one-time gains and costs, were 65 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The maker of infant formula, medical devices and drugs posted revenue of $5.33 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $5.36 billion.
For the year, the company reported profit of $1.4 billion, or 94 cents per share. Revenue was reported as $20.85 billion.
For the current quarter ending in April, Abbott expects its per-share earnings to range from 42 cents to 44 cents.
The company expects full-year earnings in the range of $2.40 to $2.50 per share.
Abbott shares have increased nearly 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 2 percent. The stock has risen nearly 2 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on ABT at https://www.zacks.com/ap/ABT.
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