Abbott Laboratories Inc. (NYSE:ABT) posted first-quarter profit that beat estimates, bolstered by the company’s diagnostics business.
Net income totaled US$418mln, or US$0.23 a share, compared with US$419mln, or US$0.24 a share, a year earlier, the company said in a statement. Excluding one-time items, Abbott Laboratories had adjusted earnings per share of US$0.59 per, just ahead of the $US0.58 a share estimated by Thomson Reuters analysts.
Revenue at the medical-products group advanced 17% to US$7.39bln.
The stock dropped 1.3% to US$59.00 in pre-market trading.