Abbott Labs Posts Strong First-Quarter Growth
Abbott Laboratories Inc. (ABT), which split off its branded drugs business at the beginning of the year into a new company called AbbVie Inc. (ABBV), on Wednesday reported a first-quarter profit of $544 million, or 34 cents a share, from continuing operations.
That compared with year-earlier earnings from continuing operations of $351 million, or 22 cents a share.
Excluding special items, the suburban Chicago company earned 42 cents a share. Analysts, on average, had expected 41 cents a share, according to Thomson Reuters I/B/E/S.
Sales rose 1.8 percent to $5.38 billion, slightly below Wall Street expectations of $5.41 billion.